Owned by 24 State Bankers Associations, Compliance Alliance monitors the needs of bankers to create, update and continually provide the most sought-after banking regulation resources in the industry.
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Compliance Alliance provides unique access to tools and resources designed specifically to assist banks in keeping up and staying ahead in an ever-changing regulatory environment. Learn more about becoming a Compliance Alliance member and see how we can help your bank thrive.
This is a two piece cheat sheet - One page is a "Providing the Closing Disclosure" that breaks down when the disclosure is due and when it would need to be mailed based on the closing date. The other page is a "TILA RESPA Integrated Disclosure Timeline" that takes you from application to consummation.Free Download
This document summarizes the integrated disclosures rule.Free Download
Fannie Mae and Freddie Mac issued letters to the mortgage lenders they work with explaining their posture towards compliance with the TILA-RESPA integrated disclosures. Fannie's letter states, "Fannie Mae is aware that some lenders continue to address the implementation of TRID’s technical requirements. In recognition of this, until further notice, Fannie Mae will not conduct routine post-purchase loan file reviews for technical compliance with TRID; however, consistent with current practices, Fannie Mae will evaluate whether the correct forms were used in connection with the origination of a mortgage loan.
Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan vote of 303-121. The bill, the Homebuyers Assistance Act, provides a four-month grace period for businesses that are working in good faith to comply with a new 1,888-page rule from the Consumer Financial Protection Bureau that went into effect Oct. 4.The grace period runs through February 1.
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