CFPB proposed mortgage disclosure rules get mixed grades from credit union trades

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit union trade groups said Monday they got some—but not all–of what they wanted in the CFPB’s proposed updated mortgage disclosure rules.The bureau on Thursday proposed amendments to federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act. The proposed amendments, the TILA-RESPA Integrated Disclosures, give regulatory backing to guidance that the CFPB has issued. The bureau also proposed tolerance provisions for the total number of payments an adjustment to a partial exemption that affects housing finance agencies and nonprofits, extension of coverage of the integrated disclosure requirements to all cooperative units, and guidance on sharing the disclosures with various parties involved in the mortgage origination process. continue reading »last_img

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