We only have until Tuesday to respond to the most important proposed change to RESPA in many years. I am writing you today because your individual input is essential to maximize our influence on the proposed mortgage disclosure forms and the rules governing how they will be completed. Please, take a moment to read this email and take action.
The deadline for comment on the Consumer Financial Protection Bureau’s (CFPB) proposed new RESPA/TILA disclosures to replace the HUD-1 with a Closing Disclosure form is November 6, 2012. This is the most important time to ensure the land title industry has a seat at the table when determining how to move forward with these proposed changes.
To ensure these new rules work for our industry and not against us, you must submit your comment today. We are providing two sample letters for you to submit to the CFPB today. The first letter allows you to be specific and fully explain the costs of this rule on the land title industry and consumers. The second letter is a straight-forward statement that you are concerned about the rule and asks that the land title industry to be included in this process. You may access the first letter here and the second letter here.
Please take five minutes and submit your letters directly to the CFPB today by visiting http://www.regulations.gov/#!submitComment;D=CFPB-2012-0028-0353 or email your letter to TAN@alta.org. The deadline for submission is November 6, 2012.
Your voice is extremely important. I hope you will take the time to submit your letter to the CFPB today.