Tag: TRID

CFPB Publishes Final ‘Know Before You Owe’ Rule

Filed in Codes and Regulations, Housing Finance by on July 10, 2017 0 Comments
CFPB Publishes Final ‘Know Before You Owe’ Rule

The Consumer Financial Protection Bureau on July 7 published final updates to its “Know Before You Owe” mortgage rule, offering amendments on finance charge disclosures, disclosures tied to housing assistance that a borrower receives, and when information can be shared with third-parties, including real estate agents.

Of particular interest to NAHB, the final rule clarifies disclosures for construction and construction-to-permanent loans addressing many of the concerns lenders have expressed in making these loans.

Continue Reading »

CFPB Proposes Updates to ‘Know Before You Owe’ Rule

Filed in Housing Finance by on August 1, 2016 1 Comment
CFPB Proposes Updates to ‘Know Before You Owe’ Rule

The Consumer Financial Protection Bureau (CFPB) on July 29 released proposed updates to its “Know Before You Owe” mortgage disclosure rule, also known as the TILA/RESPA Integrated Disclosure rule or TRID.

Continue Reading »

Reports of Home Mortgage Delays – And What You Can Do to Prevent It

Filed in Codes and Regulations, Housing Finance by on December 28, 2015 0 Comments
Reports of Home Mortgage Delays – And What You Can Do to Prevent It

Recent media reports have cited mortgage delays resulting from new federal home disclosure rules that went into effect on Oct. 3. Learn what steps you can take to keep this from happening to you.

Continue Reading »

House Votes 4-Month ‘Hold Harmless’ Period on New Mortgage Lending Rules

Filed in Capitol Hill, Homeownership, Housing Finance by on October 7, 2015 0 Comments
House Votes 4-Month ‘Hold Harmless’ Period on New Mortgage Lending Rules

In a victory for NAHB, the House today approved bipartisan legislation that would provide a hold-harmless period until Feb. 1, 2016 for those making a good-faith effort to comply with new mortgage lending rules instituted by the Consumer Financial Protection Bureau (CFPB) on Oct. 3.

Continue Reading »

New Mortgage Lending Rules Take Effect Tomorrow

New Mortgage Lending Rules Take Effect Tomorrow

Heads up: The Consumer Financial Protection Bureau’s new mortgage lending rules will take effect Oct. 3.

Continue Reading »

House Panel Approves Measure to Delay Enforcement of New Mortgage Rules

Filed in Capitol Hill, Housing Finance by on July 30, 2015 0 Comments
House Panel Approves Measure to Delay Enforcement of New Mortgage Rules

The House Financial Services Committee approved three key housing bills yesterday that will benefit NAHB members, including a measure that would provide a hold-harmless period to ensure that home closings will not be disrupted after new mortgage lending rules take effect on Oct. 3.

Continue Reading »

CFPB Announces New Lending Rules Set for Oct. 3

CFPB Announces New Lending Rules Set for Oct. 3

The Consumer Financial Protection Bureau (CFPB) announced today that it will be instituting new mortgage lending rules effective Oct. 3. The implementation date was originally scheduled for Aug. 1 and then pushed back to Oct. 1, before being delayed an additional 48 hours due to late paperwork filings.

Continue Reading »

CFPB Responds to Enforcement Concerns Over New Lending Rules

CFPB Responds to Enforcement Concerns Over New Lending Rules

At NAHB’s urging, the Consumer Financial Protection Agency (CFPB) today announced it will work with lenders and others who are trying to comply with new mortgage lending rules that will take effect on Aug. 1 to delay enforcement procedures.

Continue Reading »