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TILA-RESPA Integrated Disclosures

Days Until the Integrated Mortgage Disclosure Rule Goes into Effect

The closing process will significantly change when the Consumer Financial Protection Bureau's fine rule for integrated mortgage disclosures goes into effect. The rule integrates forms required under the Truth-in-Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA). A Loan Estimate will replace the current Good Faith Estimate and early TIL disclosure, while a Closing Disclosure will replace the HUD-1 and final TIL disclosure.

The CFPB announced a proposal to push back implementation until Oct. 1, 2015.

Key Documents

Education/Training DVD

ALTA's Land Title Institute has created a training DVD to help you prepare for the disclosures. The DVD includes six modules that will help you understand the disclosures, including an introduction, what led to the development of the new disclosures, a step-by-step explanation of the Loan Estimate and Closing Disclosure, a discussion on how business processes will change, walk through how business relationships will change and how data will be shared, and additional resources and next steps.

A customizable model presentation also is available to guide discussions with your customers.

Order from the ALTA Store or print and complete the order form.

2015 TRID Forum Recording

Purchase a recording of the TILA-RESPA Integrated Forum held in Dallas. The more than seven hours of discussion provides the latest interpretations and rules on the TILA-RESPA integration from the CFPB, addresses implications for closing/settlement, provides information on completing the Loan Estimate and Closing Disclosure, highlights how technology can be used to collaborate and solve compliance issues and explains how the entire real estate transaction will be changed.

Additional Documents and Resources

ALTA Settlement Statement

ALTA developed standardized ALTA Settlement Statements for title insurance and settlement companies to use to itemize all the fees and charges that both the homebuyer and seller must pay during the settlement process of a housing transaction. Four versions of the ALTA Settlement Statement are available. Download here.

Data standards

Freddie Mac and Fannie Mae have released a common industry dataset, called the Uniform Closing Dataset, which leverages and maps to Mortgage Industry Standards Maintenance Organization (MISMO) data standards, to support implementation of the TILA-RESPA Closing Disclosure form.



Follow ALTA’s blog for updates and analysis of the rule, as well as answers to questions about the disclosures that were submitted to ALTA. Sample posts:

ALTA Congressional Testimony

TILA-RESPA Integrated Disclosure: Examining the Costs and Benefits of Changes to the Real Estate Settlement Process (Housing and Insurance Subcommittee of the House Financial Services Committee)

Diane Evans - May 14, 2015

Regulatory Burdens to Obtaining Mortgage Credit (United States Senate Committee on Banking, Housing & Urban Affairs)

Statement for the Record - April 16, 2015

Examining Regulatory Burdens on Non-Depository Financial Institutions (Financial Institutions and Consumer Credit)

Diane Evans - April 15, 2015

Legislative Proposals to Improve Transparency and Accountability at the CFPB

Rob Chapman - May 20, 2014

Submit Your Questions/Comments about the rule to ALTA here


What You Can Do

Join the Title Action Network to keep up-to-date about the rule and how you can take action.

Report RESPA Violations

If you want to report a possible violation of the Real Estate Settlement and Procedures Act (RESPA), email Include any evidence and contact information so that investigators may contact you. To the extent consistent with law enforcement needs, the Bureau will not disclose your identity and will maintain confidentiality as permitted by federal laws.

News on the Consumer Financial Protection Bureau

June 26, 2015 CFPB Puts Consumer Complaints Online
CBS News | June 25, 2015
More than 7,700 consumer complaints about debt collectors, mortgage companies and credit card issuers were made public on Thursday by the Consumer Financial Protection Bureau. The move is aimed at giving consumers a window into issues others have experienced with financial services companies. Earlier this year, ALTA encouraged the bureau to modify the type of information that is collected from companies for the consumer complaint database. Resolving consumer complaints is the seventh pillar of ALTA’s “Title Insurance and Settlement Company Best Practices,” which says a process for receiving and addressing consumer complaints helps ensure reported instances of poor service or non-compliance do not go undiscovered.
June 25, 2015 CFPB Proposes Oct.3 Effective Date for TRID
The Consumer Financial Protection Bureau (CFPB) on June 24 issued a proposed amendment to delay implementation of the TILA-RESPA Integrated Disclosures rule until Saturday, Oct. 3. In its proposal outlining the new deadline, the bureau indicated that in recent weeks it learned delays in the delivery of system updates have left creditors and others with limited time to fully test all of their systems. Additionally, the CFPB said that scheduling the effective date on a Saturday “may allow for smoother implementation by affording industry time over the weekend to launch new systems configurations and to test systems."
June 25, 2015 DocMagic Begins Testing SmartCLOSE Program for TRID Preparation
DocMagic Inc. announced that a group of clients have begun to test the features and functionality available within its new collaborative closing portal, SmartCLOSE, which offers a secure, centralized online environment for lenders, settlement providers and other associates to share, validate, audit, track and collaborate on documents, data and fees.
June 25, 2015 Bank of America Supports Use of ALTA Model Settlement Statements
Bank of America said it encourages settlement agents to use ALTA's model Settlement Statements or similar state-specific forms when needed to supplement the Closing Disclosure.
June 25, 2015 CFPB Changes TRID Effective Date — Again
HousingWire | June 24, 2015
The Consumer Financial Protection Bureau's new mortgage disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.
June 25, 2015 TILA-RESPA Integrated Disclosure Training Tools Available from ALTA
ALTA has produced a TILA-RESPA Integrated Disclosure training DVD to help the industry prepare for the implementation of the new forms. The two and a half hour training DVD addresses key components of the 1,888 pages of the CFPB Rule, related regulatory action impacting work flow changes, how to collaborate with customers to prepare for implementation, and provides a detailed review of the new Loan Estimate and Closing Disclosure. Additionally, ALTA has developed customizable Lunch and Learn presentations to guide implementation discussions with real estate customers.
June 25, 2015 Wells Fargo to Allow Use of Settlement Statement in Conjunction with Closing Disclosure
In its June 2015 newsletter to its settlement agents, Wells Fargo indicated that a settlement statement in any form can be provided to the borrower along with the five-page Closing Disclosure.
June 25, 2015 CUNA Urges CFPB to Clarify TILA-RESPA
Credit Union Times | June 22, 2015
In a letter to the CFPB on Monday, CUNA requested the federal bureau to clarify a discrepancy and exempt credit unions that make five or fewer mortgages in a calendar year from the Know Before You Owe rule.
June 25, 2015 How Encryption Can Help with CFPB Compliance
To maintain CFPB compliance without violating consumer privacy or causing a breach of NPI, it’s crucial that title agents provide proper training with everyone on staff so that, say, a Closing Disclosure doesn’t end up on the wrong person’s desk — or in their inbox.
June 25, 2015 Webinar Recording: Learn About Solutions to Effectively Share Data for TRID
Because the CFPB’s TILA-RESPA Integrated Disclosures (TRID) pull information from two separate systems, electronic collaboration between title professionals and lenders will be paramount to complete the new Loan Estimate and Closing Disclosure. Learn how loan-centric information stored in lenders' loan origination systems and property-centric data found in title/settlement agents' systems can be shared efficiently by listening to a recording of ALTA’s webinar "The Need for Electronic Collaboration: Solutions to Effectively Share Data for TILA-RESPA Integrated Disclosures. Operations and IT experts discuss solutions to technology challenges so you can effectively exchange data during different points of the transaction, get deals closed and ensure regulatory compliance. The webinar discusses providing accurate fees to the lender for the Loan Estimate, needed collaboration to produce the Closing Disclosure, security and data privacy issues, the necessary integration support and what to expect after Aug. 1.
More CFPB Articles

For More Information Contact

    Justin B. Ailes
Vice President of Government & Regulatory Affairs
Phone: 202-296-3671 Ext. 215
Contact Me About: Federal Legislative and Regulatory Issues, NAIC

    Steve Gottheim
Legislative & Regulatory Counsel
Phone: 202-296-3671 Ext. 230
Contact Me About: Federal Legislative and Regulatory Issues, Legal Issues, Best Practices Inquiries

    Benjamin P. Lincoln
Director of Government Affairs
Phone: 202-296-3671 Ext. 220
Contact Me About: Government Affairs

    Jessica McEwen
Director of Political Affairs
Phone: 202-296-3671 Ext. 233
Contact Me About: Federal Legislative and Regulatory Issues, TIPAC

    S. Madeleine Nagy
Director of State Government Affairs
Phone: 202-296-3671 Ext. 329
Contact Me About: State Government Affairs Issues

    Ashley Sadler
Associate Legislative and Regulatory Counsel
Phone: 202-296-3671 Ext. 239
Contact Me About: Federal Legislative and Regulatory Issues, Legal Issues, Best Practices Inquiries

    Awesta Sarkash
Grassroots and Advocacy Coordinator
Phone: 202-296-3671 Ext. 212
Contact Me About: Title Action Network (TAN) Inquiries

    Wayne M. Stanley
Director of Public Affairs
Phone: 202-296-3671 Ext. 221
Contact Me About: Social Media, Press Releases, Title Action Network (TAN) Inquiries

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