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CFPB Information & Resources

 

On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) published its final rule concerning the creation of Integrated Mortgage Disclosures. This combines the disclosures consumers receive under the Truth-in-Lending Act (TILA), and the Real Estate Settlement procedures Act (RESPA). The final rule includes new forms that will be used on virtually every transaction involving a mortgage loan originated and closed after October 3rd , 2015. The new rules are 1,888 pages long and we are thoroughly reviewing these to discover the effects they will have on our work as settlement agents and title insurers.

A copy of the entire rule can be found by clicking here.

Ticor Title is working closely with our corporate entities and technology teams to ensure our escrow production systems comply with the new rules; generate the Closing Disclosure and send/receive machine readable data to and from loan originators. We are committed to cover all aspects of the new requirements in the coming months.

In the meantime please visit the CFPB website by clicking here, to get familiar with the new forms. These new forms will replace the existing TILA Disclosure, Good Faith Estimate (GFE) and HUD-1 Settlement Statement on nearly every residential sale or refinance after October 3rd , 2015.

For further information on the new rules, forms and the impact they'll have on all settlement agents, please visit the Consumer Financial Protection Bureau's website by clicking here for detailed information.

The CFPB in Plain English

New Rules, New Forms

The Loan Estimate Explained

The Closing Disclosure Form in Plain English

CFPB New Terms & Definitions

The Benefits of an Owner's Title Insurance Policy

Video: What is the Consumer Financial Protection Bureau

New Rules, New Forms

New Definitions

The Loan Estimate

CFPB Guides & Resources in Plain English

What is the CFPB in Plain English?

What is the CFPB A plain-english guide to the Consumer Financial Protection Bureau. You'll find simple answers about the CFPB and how the new rules will change real estate transactions. To download a PDF, click here.

5 Things Real Estate Agents Need to Know About the CFPB

5 things agents need to know about the CFPB A two-page summary of the top 5 things real estate agents need to know before October 2015 with regards to the CFPB. Find out about the new mortgage disclosure forms and how they change every transaction you work on after October 2015. To download a PDF, click here.

5 Things Lenders Need to Know About the CFPB

5 things lenders need to know about the CFPB A two-page summary of the top 5 things lending professionals need to know before October 2015 with regards to the CFPB. You'll find ways in which we can have a smooth transition to the new CFPB regulations and the Closing Disclosures.  To download a PDF, click here.

5 Things Attorneys Need To Know About The CFPB

5 things attorneys need to know about the CFPB Straight talk about how to have a smooth transition to the new CFPB regulations and forms. To download a PDF, click here.

5 Things Escrow Agents Need to Know About the CFPB

5 things escrow agents need to know about the CFPB A two-page summary of the top 5 things escrow agents need to know before August 2015 with regards to the CFPB. To download a PDF, click here.

Closing Protection Letters & Insurance Policy Comparisons

CPL insurance policy comparisons A two-page summary including the differences between different types of common insurance policies and protections. To download a PDF, click here.

The New Closing Disclosure Explained

The new Closing Disclosure form Explained A look at the different sections of the Closing Disclosure and explanations of each page. To download a PDF, click here.

Loan Application Date - Making a Smooth Transition

Transition to the new Closing Disclosure Form Upon onset of the October 1st CFPB regulations, your transactions will be handled differently depending on the loan application date.  Find out which forms your transaction will require. To download a PDF, click here.