CFPB TRID Sec. 4 - Does a creditor have an option to use the new Integrated Disclosure forms for a transaction not covered by the TILA-RESPA Rule?

Compliance > Regulation Z - TILA / TRID Specific > General Info
Q:  Does a creditor have an option to use the new Integrated Disclosure forms for a transaction not covered by the TILA-RESPA Rule?
 
A:  Creditors are not prohibited from using the Integrated Disclosure forms on loans that are not covered by the TILA-RESPA Rule. However, a creditor cannot use the Integrated Disclosure forms instead of the GFE, HUD-1, and Truth-in-Lending disclosures for transactions that are covered by TILA or RESPA that require those disclosures (e.g., reverse mortgages), unless the transaction qualifies for an exemption from those disclosure requirements (e.g., mortgages associated with certain housing assistance loans programs for low- and moderate-income consumers). (See §§ 1026.3(h) and 1024.5(d)(2)).
 
 
This can be found in the CFPB's TILA-RESPA Integrated Disclosure rule compliance guide - http://www.consumerfinance.gov/regulatory-implementation/tila-respa/
 

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