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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:

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

October 1, 2015 CFPB Clarifies TRID Good-Faith Enforcement
October 1, 2015 House to Vote on ALTA Supported TRID Hold-Harmless Bill
U.S. House of Representatives Majority Leader Kevin McCarthy announced that the House will vote next week on an ALTA supported bill that would provide limited liability for those who in good faith attempt to comply with the new TILA-RESPA Integrated Disclosure (TRID) requirements that go into effect Oct. 3.
October 1, 2015 Questions About TRID?
Have questions or issues about TRID that you need answered? Send an email to ALTA will address common questions/issues here on its blog.
October 1, 2015 TRID Preparedness Checklist
If you're behind the eight ball in preparing for TRID implementation, use this checklist to help you determine key areas that should be addressed ahead of Oct. 3.
October 1, 2015 Ernst Launches TRID-Ready Calculator
The company said that lenders can use the closing cost calculator for the Loan Estimate and Closing Disclosure in parallel with Ernst's existing GFE/HUD fee tools.
October 1, 2015 Groups Warn Lenders Unprepared for TRID
With the Oct. 3 deadline for implementation of the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure rule just days away, both the Mortgage Bankers Association and American Bankers Association warned that many of their members are not prepared to comply with the regulation.
October 1, 2015 CFPB Should Be Bipartisan Commission
The Hill | September 30, 2015
ALTA CEO Michelle Korsmo joined industry leaders explaining why the CFPB to should be restructured to ensure it can continue to meet the needs of consumers. The CFPB’s work over the past four years and its mission is in jeopardy if a stable, bipartisan board is not put in place. A bipartisan commission is not only good policy, but it is smart politics. It would ensure the agency is around not only for the next administration, but for the next generation of consumers.
October 1, 2015 CFPB Details TRID Compliance Focus in Exam Manuals
Among other things, the CFPB noted that during compliance examinations it will review accuracy of fees charged, the proper description, labeling and ordering requirements of fees, any affiliated business arrangements with settlement service providers, and examine how escrow funds are handled and accounts are maintained.
October 1, 2015 ALTA Encouraged by CFPB Statement on TRID Hold-Harmless Period
During testimony before the House Financial Services Committee, CFPB Director Richard Cordray reiterated comments he made during previous testimony that the bureau’s TRID enforcement actions would be diagnostic and corrective and not punitive. Until the CFPB issues formal guidance, ALTA members will continue to support legislative action, such as H.R. 3192 sponsored by Reps. French Hill (R-Ark.) and Brad Sherman (D-Calif.), which would extend a hold-harmless period until Feb. 1, 2016
October 1, 2015 Need a TRID Crash Course? ALTA has You Covered
There are just nine days until implementation of TRID. Is your office and staff prepared? If not, ALTA has plenty of informative resources to help get you ready for Oct. 3. Check out ALTA’s blog for discussions on many technical aspects of the rule and recorded webinars for tips on operational and process changes. There’s also a TRID preparedness checklist and a Title & Lender Process Questionnaire.
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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