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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. 3, 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

September 3, 2015 Penalties for Failing to Comply with TRID
The Consumer Financial Protection Bureau has broad authority to enforce compliance with nearly all federal consumer finance statutes. While there’s no clear guidance on whether TILA or RESPA is the dominant statute, penalties can range from $5,000 per day for a violation to $1 million per day for known violations.
September 3, 2015 Realtors Confident in Title Companies’ TRID Preparedness
Realtors have a high degree of confidence that the title companies they work with are prepared for implementation of the TILA-RESPA Integrated Disclosures, according to a survey conducted by the National Association of Realtors.
September 3, 2015 TRID Whitepaper Addresses Key Operation Considerations for Title and Settlement Service Providers
A whitepaper titled “TILA-RESPA Integrated Disclosures Operation Considerations” outlines many operational considerations title and settlement service providers may experience when using the Loan Estimate and Closing Disclosure.
September 3, 2015 Webinar Recording: TRID Ready? This Is What It Looks Like
With less than a month until implementation of TRID, it’s imperative for industry participants to make sure operational changes are in place, that staff understands the new requirements and business partners all have the same expectations on how deals will get closed. Listen to a recording of ALTA’s webinar “TRID Ready? This Is What It Looks Like” to hear from lenders, title/settlement agents and technology experts and learn how others have prepared. To help you get ready for Oct. 3, the webinar also addresses what your real estate partners and consumers should know about the new closing process.
September 3, 2015 Remind Realtors to Build Extra Time in Contracts for TRID
The key message title professionals should remind real estate agents is that there’s a much different timeline to comply with the TILA-RESPA Integrated Disclosures (TRID) rule. Longer contracts and two walkthroughs are items real estate agents should consider for deals impacted by TRID.
September 3, 2015 OneTrust Home Loans Chooses Simplifile for TRID Solution
OneTrust Home Loans has chosen Simplifile as its partner and online service provider to collaborate with settlement agents and meet compliance requirements for the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosures rule.
September 3, 2015 How to Disclose Survey Fees on TRID
The proper placement and naming convention for a survey related charge is one of the most complex in the new TILA-RESPA Integrated Disclosures (TRID) rule. Lenders and settlement agents should work closely together to understand the reason a survey is being ordered to ensure its proper placement on the new disclosures. Check out ALTA's blog for examples of different circumstances and how they could impact the placement of the survey charge.
September 3, 2015 Download ALTA's Model Settlement Statements to Use for TRID
ALTA has developed four model Settlement Statements for title insurance and settlement companies to use in order to itemize all the fees and charges involved in the transaction once the CFPB's TILA-RESPA Integrated Disclosures go into effect Oct. 3. Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. The model Settlement Statements are not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure. 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.
September 3, 2015 Helpful Chart to comply with TRID Three-day Delivery Rule
Due to liability issues, many lenders will handle production and delivery of the Closing Disclosure. Other lenders may opt to rely on their network of settlement agents to produce the disclosure and provide it to the homebuyer. It's important to communicate with your lenders to learn how they will handle this process. If your company expects to handle these duties, do you know how to comply with the regulation’s delivery requirements? Use this graphic to help determine when the Closing Disclosure should be sent to ensure the buyer receives it three days prior to consummation of the transaction.
August 27, 2015 RESPA Compliance When Using the CFPB Homebuyer Toolkit
The Consumer Financial Protection Bureau (CFPB) recently provided scenarios to help explain how companies can use the bureau’s “Your Home Loan Toolkit,” which guides consumers through the process of shopping for a mortgage and buying a house. There has been industry concern that providing the toolkit to business partners would violate Section 8 of RESPA
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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