Tag Archives: trid

TILA – RESPA Integrated Disclosure – Part 3 of 5: The Closing Disclosure Form

The New Closing Disclosure Form (Part 3 of 5) (Jeff Sorg, OnlineEd) – The Closing Disclosure integrates and replaces the final Truth-in-Lending disclosures and the RESPA HUD-1. In general, the Closing Disclosure sets forth the actual terms and costs of the transaction. The Closing Disclosure must be in writing and contain all of the information required. In […]

TILA – RESPA Integrated Disclosure – Part 2of 5: The Loan Estimate Form

The New Loan Estimate Form (Part 2 of 5) (Jeff Sorg, OnlineEd) – The Loan Estimate is a three-page form that replaces the initial Truth-in-Lending disclosure and the RESPA Good Faith Estimate (GFE). The purpose of this new form is to provide consumers with a good faith estimate of credit costs and transaction terms in simple […]

The New TILA-RESPA Integrated Disclosure – Part 1of 5: Summary and Background

The Consumer Financial Protection Bureau is requiring the use of a new TILA-RESPA integrated disclosure as of October 3, 2015 (Part 1 of 5) (Jeff Sorg, OnlineEd) – The Consumer Financial Protection Bureau (CFPB) is requiring the use of a new TILA-RESPA integrated disclosure as of October 3, 2015. In 2012, the Dodd-Frank Wall Street […]

CFPB Moves TRID Implementation to October 3rd

CFPB issues proposed amendment to move TRID implementation date from August 1, 2015 to October 3, 2015 BREAKING NOW – – – (Jeff Sorg, OnlineEd)  – The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. […]

CFPB Proposes to Delay TRID Until October 3, 2015

The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 3, 2015  DEVELOPING STORY – – –   (Jeff Sorg, OnlineEd) – Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule: […]

How Real Estate Brokers Can Train for TRID Before the October 3rd Deadline

Free online orientation and training course for real estate agents who still need to get ready for October 3, 2015 TRID (Jeff Sorg, OnlineEd) – When it comes to TILA-RESPA Integrated Disclosure, training is key for your real estate company’s successful transition, and to avoid delayed closings. To help get you up to date, OnlineEd is offering an […]

3 Things in The New Mortgage Disclosure Rule That Will Delay Closings

(Jeff Sorg, OnlineEd) – There’s a lot of misinformation circulating about how the new mortgage disclosure three-day rule is going to delay real estate closings. While this could happen, it’s not as bad as it sounds. Here are the three things that could delay your closings: The APR (annual percentage rate) increases by more than 1/8 of a […]

NAR President Cautions Closings Could Drag From Coming Changes to Real Estate Closings

(Jeff Sorg, OnlineEd) – NAR President Chris Polychron, recently cautioned that closings for some home sales could drag after October 3, 2015as the real estate industry transitions to the new closing procedures required by the Consumer Financial Protection Bureau’s integrated disclosure rule. “There likely will be bumps in the closing process while all parties get used to the […]

Changes to RESPA and TILA Forms, What You Need to Know Before August 1, 2015

 (Jeff Sorg, OnlineEd) – Changes required by the Consumer Financial Protection Bureau are coming to the real estate and mortgage industry on August 1, 2015 that real estate brokers need to know about. These changes involve four forms with which you are all very familiar. These four forms are: 1. The Truth In Lending Act’s “Truth In […]