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TILA-RESPA Integrated Disclosures

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:

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

May 24, 2016 Now It's Real — No Statute of Limitations for CFPB UDAAP Claims
Reuters | May 23, 2016
The Consumer Financial Protection Bureau believes that no statute of limitations applies when it sues parties in its administrative tribunal, as opposed to federal court.
May 24, 2016 Last Chance to Register for RESPA Webinar: Understanding Things of Value and Referrals
Compliance Webinar Series | 1:00-2:00 p.m. ET, Wednesday, May 25
While the Real Estate Settlement Procedures Act (RESPA) has been around since 1974, its broad language makes compliance with the law an ever-changing process. Recent CFPB and state enforcement actions have changed the game when it comes to understanding RESPA’s core prohibition on kickbacks and unearned fees. Learn the basics of Sections 8(a) and (b) of RESPA from a leading expert as attorney Andy Arculin of the law firm Venable explains the difference between a referral fee and an unearned fee or kickback, and what compensation is permissible under the law. Attendees will walk away with a good analytical framework to help with compliance.
May 19, 2016 Industry Compliance: Understanding Regulator Interpretations and Trends in Enforcement
Some have called compliance the “new black.” That may be partially correct, but complying with laws and regulations has never gone out of style. What has changed, though, is the lens through which regulators are using to interpret compliance. With the Consumer Financial Protection Bureau on the beat, regulators are laser-focused on the consumer experience. Read on to learn how the CFPB and other regulators are viewing compliance with the Real Estate Settlement Procedures Act, including violations for affiliated business arrangement disclosures, payment of referral fees and marketing service agreements.
May 19, 2016 Congressman Calls for Regulatory Transparency from the CFPB
DS News | May 18, 2016
U.S. Rep. French Hill (R-Arkansas) said Monday that the Consumer Financial Protection Bureau (CFPB) needs to do a lot more to ensure the industry understand the new TRID-compliant ‘Know Before You Owe’ rules before they take effect. Specifically, Hill wants to make sure that the Bureau clears up confusing language regarding insurance fees in the mortgage process.
May 18, 2016 Is TRID Encouraging Smarter Homebuyers?
National Mortgage Professional Magazine | May 17, 2016
According to the new Home Closing Survey conducted by the American Land Title Association (ALTA), 92 percent of surveyed homebuyers set aside time before their closings to review their mortgage documents.
May 17, 2016 ALTA Provides Congress Feedback About TRID Implementation, Continued Challenges
ALTA last week sent a letter to U.S. Reps. Blaine Luetkemeyer (R-MO) and Randy Neugebauer (R-TX) describing how the industry is adapting to the TILA-RESPA integrated Disclosure (TRID) rule and how Congress can support a smoother implementation process.
May 17, 2016 ALTA Closing Survey Shows More Consumers Reviewing Mortgage Disclosures
According to the survey, the CFPB’s Know Before You Owe regulation has resulted in closings being delayed slightly, but highlights the need for collaboration among title/settlement agents, Realtors and lenders to educate consumers about the transaction.
May 17, 2016 More Homebuyers Reviewing Mortgage Documents Under TRID
HousingWire | May 16, 2016
“Title and settlement agents went to great lengths to prepare and train staff prior to implementation of the regulation,” said Michelle Korsmo, ALTA’s chief executive officer. “The hard work of these professionals paid off as 92% of surveyed homebuyers are taking time to review their mortgage documents before the closing,”
May 12, 2016 CFPB Provides Annotated Versions of LE/CD With Citations to Final Rule
According to the bureau, the annotated Closing Disclosure and Loan Estimate are intended to provide a starting point for analysis of the relevant regulatory text.
May 11, 2016 Agency Seeks Input from Public on Possible Fixes for Controversial Home Closing Rules
The Washington Post | May 10, 2016
A recent effort by the federal government to make the home closing process smoother and more transparent for buyers has instead turned into a quagmire of inconsistency and confusion, according to title companies and real estate agents.
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
Senior 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

    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 & Advocacy Manager
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: Homebuyer Outreach Program, Media Inquiries, Social Media, Press Releases, Title Action Network (TAN)

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