CFPB TRID Sec. 3 - When do I have to start following the TILA-RESPA Rule and using the Integrated Disclosures?

Compliance > Regulation Z - TILA / TRID Specific > General Info
Q:  When do I have to start following the TILA-RESPA Rule and using the Integrated Disclosures?
 
A:  The TILA-RESPA Rule generally took effect on October 3, 2015 for applications received on or after October 3, 2015. The Integrated Disclosures (i.e., the Loan Estimate and the Closing Disclosure) must be provided by a creditor or mortgage broker that receives an application from a consumer for a closed-end credit transaction secured by real property on or after October 3, 2015.5
 
Creditors were required to use the GFE, HUD-1, and Truth-in-Lending forms for applications received prior to October 3, 2015.
 
 
This can be found in the CFPB's TILA-RESPA Integrated Disclosure rule compliance guide - http://www.consumerfinance.gov/regulatory-implementation/tila-respa/
 

Add Feedback