Course Details

CFPB Mortgage Disclosure Rules: New Requirements And Impacts On The Mortgage Industry

Webinar: ID# 1020452
Recorded CD
About This Course:
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) directed the Consumer Financial Protection Bureau (CFPB) to combine the mortgage loan disclosures under the Truth in Lending Act and Real Estate Settlement Procedures Act into integrated disclosures.

After many rounds of testing, the CFPB developed an integrated application disclosure called the "Loan Estimate" and an integrated closing disclosure called, appropriately, the "Closing Disclosure". The CFPB also developed an accompanying rule for the new forms. The new forms and rules became effective October 3, 2015.

Examine the basic aspects of the rule and the new integrated disclosure forms, and include a tour of the forms, and issues regarding the rule and forms.

The webinar will highlight changes that will require decisions regarding how companies conduct business, and that will place burdens on staff and systems, and common issues created by the rule that pose challenges for mortgage industry participants.

This course is important for all parties who participate in the residential mortgage loan industry or assist industry participants, including mortgage lenders and brokers, real estate brokers and agents, title companies, escrow and settlement companies, technology companies, document providers and attorneys.


TILA/RESPA Integrated Disclosure (TRID) Rule Basics
  • Scope
  • Effective Date and Related Matters
  • The New Forms
  • Liability
  • Regulator and Secondary Market Approach During Implementation
  • Current Matters
Pre-Application Limits
  • Written Cost Estimate Requirements
  • Upfront Fee Limits
  • Upfront Verification Limits
Revised Definition of Application
  • Implications
  • Loan Estimate Rules
  • Who Provides; Timing and Delivery
  • Written List of Providers
  • Limits on Increase in Charges
  • Ability to Revise Loan Estimate
  • Fee Disclosure Approach
Tour of Loan Estimate Form
Closing Disclosure Rules
  • Who Provides; Timing and Delivery
  • Ability to Revise Closing Disclosure
  • Fee Disclosure Approach
  • Post Consummation Corrections
Tour of Closing Disclosure Form
About The Presenter

Richard J. Andreano
  • Partner and practice leader of the mortgage banking group at Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA: America's Leading Lawyers for Business, banking and finance: financial services regulation: consumer finance (compliance), national ranking, 2014 to 2015
  • Wrote, MBA Compliance Essentials Loan Originator Compensation Resource Guideā„¢, published by the Mortgage Bankers Association
  • Co-wrote, MBA Compliance Essentials TILA/RESPA Integrated Disclosure TRID Rule Resource Guide, published by the Mortgage Bankers Association
  • Editor-in-Chief, Mortgage Finance Regulation Answer Book 2011 to 2012, published by the Practising Law Institute; wrote chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-wrote the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsel clients on residential mortgage regulatory matters, including ability to repay, TILA/RESPA integrated disclosure (TRID) rule, CFPB supervision and examination, UDAAP and other Dodd-Frank matters
  • Frequent speaker and writer on mortgage industry issues
CFPB Mortgage Disclosure Rules: New Requirements And Impacts On The Mortgage Industry
Available on CD format
Course Details
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