This October the Consumer Financial Protection Bureau will replace the four existing disclosures required in most residential mortgage transactions under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) with two new ones. The Good Faith Estimate and Early Truth in Lending forms will be replaced by the Loan Estimate and the HUD-1 settlement statement and the Final Truth-in-Lending disclosure will be replaced by the Closing Disclosure.
We’ve compiled a list of resources available at the Social Law Library and online that will help practitioners understand and comply with the new integrated disclosure rule. The library will also be hosting a CLE on the topic, Residential Closing Rules Update: TRID Countdown on July 16, from 4pm to 6pm, so be sure to sign up!
Consumer Financial Services Answer Book, 2015. Edited by Richard E. Gottlieb, Arthur B. Axelson, Thomas M. Hanson.
4th floor Reading Room KF1040 .C662 2014
Real Estate and Mortgage Banking: A New Era of Regulatory Reform (2014-2015 edition). By Mitchel H. Kider and David M. Souders.
4th floor Reading Room KF695 .R43
The RESPA Manual: A Complete Guide to the Real Estate Settlement Procedures Act. By James H. Pannabecker and David McF.Stemeler.
4th floor Reading Room KF681 .P36 2014
Also available as an eBook! Volume 1 Volume 2
Truth-In-Lending Manual: Text and Forms. By James H. Pannabecker.
4th floor Reading Room KF1040 .C54 2014
Also available as an eBook! Volume 1 Volume 2
Web Resources:
Consumer Financial Protection Bureau
Includes compliance guides, annotated forms, disclosure timeline, and webinar videos addressing the implementation of the new rule.
American Land Title Association
Guides, webinars.
CFPB Monitor
News
Buckley Sandler LLP, TRID Resource Center
Analysis, webinars, and slides.