CFPB: Amendments to the TILA-RESPA Integrated Disclosure Rule

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The Consumer Financial Protection Bureau (CFPB) has issued a final rule (2018 TILA-RESPA Rule) addressing when a Closing Disclosure may be used to reset tolerances under the TILA-RESPA Integrated Disclosure Rule. The amendments relate to when a creditor may compare charges paid by or imposed on the consumer to amounts disclosed on a Closing Disclosure, instead of a Loan Estimate, to determine if an estimated closing cost was disclosed in good faith. Access the final rule on the CFPB’s website.

The CFPB has also posted an executive summary of the 2018 TILA-RESPA Rule. Click here for the executive summary on the TILA-RESPA Integrated Disclosure Rule implementation.

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