CFPB talks TRID restraint
Consumer Financial Protection Bureau Deputy Director Steven Antonakes was asked about a restrained enforcement period for the TILA-RESPA Integrated Disclosure (TRID) rule at a trade show in Orlando, Fla. See what he said, and what the bureau later felt the need to clarify.
Bank of America details new TRID closing timeline
In a letter to settlement agents, Bank of America announced the new TRID timeline it plans for preparing and delivering the Closing Disclosure. In December, Bank of America said it would be responsible for preparing and delivering the Closing Disclosure starting Aug. 1; read on to find out its latest plans and how they affect settlement agents.
Does violation of state UPL constitute fee split under RESPA?
After a Georgia homeowner refinanced a mortgage, she sued her title company, the law firm that the title company hired to witness the closing and the firm’s attorney, alleging violations of RESPA and Georgia law. The case eventually went before the 11th U.S. Circuit Court of Appeals.
Dealing with lender liability
Industry News, Regulatory Updates
Liability arising from the conduct of third-party providers must remain an important focal point for lenders, who remain under heavy scrutiny from regulators as well as plaintiff’s attorneys. They are getting their guidance from a variety of regulatory sources, as there are no specific regulations that tell them specifically what they must oversee. Read on for some tips on how to address these issues.
Wells Fargo discloses technology partner to agents
In Wells Fargo’s latest quarterly newsletter to settlement agents who close loans with the lender, Wells announces the technology partner with whom agents will be connecting to, as well as answering more questions regarding the company’s plans for the TILA-RESPA Integrated Disclosure Rule implementation Aug. 1. Read on for the details.
Massachusetts may look at public title insurer
A bill has been introduced in the Massachusetts General Assembly that would establish a commission to study the feasibility of creating a title insurer owned by the Commonwealth or by a public authority constituted by the Commonwealth. Read on for more details.