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TILA-RESPA Disclosure Implementation

Have you begun to look over the new requirements for the TILA-RESPA integrated disclosure rule? If not, don’t worry to much, yet. This rule was finalized and released in November 2013. This rule becomes effective on August 1, 2015. While there is some time before the effective date, I would not recommend waiting until next year to start becoming familiar with the new requirements.

The best thing about acquiring information on the new rule, is that the Consumer Financial Protection Bureau (CFPB) has made provided a lot of material to start with. I would recommend checking out their webpage titled “TILA-RESPA Integrated Disclosure rule implementation,” as it contains plenty of information documents to help you through the implementation phase of the rule.

Two documents I would point you to, that might be of some interest, is the “TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide” and the “TILA-RESPA Integrated Disclosure: Guide to the Loan Estimate and Closing Disclosure forms.”

Please take the time to look through this webpage and the documents included, as it will help you with your implementation of new TILA-RESPA integrated disclosure rule.

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