TILA-RESPA
Integrated Disclosure rule implementation
Email updates about
mortgage rule implementation
New consumer guide replaces settlement cost
booklet
Your Home Loan Toolkit –
now available in English & Spanish – is designed to be used in connection
with the new Loan Estimate & Closing Disclosure forms. It will replace the
current Settlement Cost booklet when the TILA-RESPA Integrated Disclosures go
into effect.
RESOURCES TO HELP YOU COMPLY
Compliance guide: A plain-language guide
to the new rules in a FAQ format which makes the content more accessible for
industry constituents, especially smaller businesses with limited legal and
compliance staff.
Guide to forms: Provides detailed,
illustrated instructions on completing the Loan Estimate and Closing
Disclosure.
Closing
factsheet: An overview of the limited circumstances when changes to the
loan require a new three-day review.
Disclosure
timeline: Illustrates the process and timing of disclosures for a
sample real estate purchase transaction.
Integrated loan
disclosure forms & samples: Downloadable Loan Estimate and Closing
Disclosure forms in both English & Spanish and samples for different loan
types.
Videos: A series of webinars to address
implementation of the new rule. Please note that registration is required to
view the recordings. Topics include an an overview of the
rule, frequently asked
questions, loan estimate form,closing
disclosure form and implementation
challenges. Use the question index to
find out which questions were answered and when during the webinar series.
Supervision
and examination materials
Our Readiness Guide provides
guidelines for institutions to evaluate their readiness and help them comply
with the mortgage rule changes.
ADDITIONAL INFORMATION
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. MISMO is developing a corresponding mapping dataset for the
Loan Estimate that will be available soon.
These are downloadable
versions of the models and samples that were published in the rule.
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