American Land Title Association
Print Friendly
Home  >  Advocacy

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Consumer Financial Protection Bureau

CFPB Updates Timeline for Release of Final Mortgage Disclosure Rule

July 16, 2013

The Consumer Financial Protection Bureau has shed a little more light on when the industry can expect a final rule regarding the Bureau’s efforts to create new mortgage disclosures.

The Bureau has proposed a new Loan Estimate and Closing Disclosure that will replace the current Truth in Lending (TIL), Good Faith Estimate (GFE) and HUD-1 Settlement Statement.

In its semi-annual update of rulemaking agenda, the CFPB indicated that the final rule isn’t expected to be released until at least October. Pending the results of additional testing, Kelly Cochran, CFPB’s assistant director for regulations, wrote in a July 2 blog post that the CFPB plans to issue the final rule this fall and that the Bureau does “not expect any implementation work to begin until after the January 2014 effective date for the earlier mortgage rules.”

In a July 1 meeting with Michelle Korsmo, ALTA's chief executive officer, and Justin Ailes, ALTA's vice president of legislative and regulatory affairs, Cordray said that the CFPB will release its final rule “this fall.”

Check out ALTA’s website for more information about the Bureau’s efforts to create new mortgage disclosures. Once the final rule is released, ALTA will hold webinars to educate members about the changes.

Related Articles

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment