CFPB TRID Sec. 2 - What transactions are covered by the TILA-RESPA rule?

Compliance > Regulation Z - TILA / TRID Specific > General Info
Q:  What transactions are covered by the TILA-RESPA rule?
 
A:  The rule applies to most closed-end consumer credit transactions secured by real property, but does not apply to:  HELOCs; reverse mortgages; or chattel-dwelling loans, such as loans secured by a mobile home or by a dwelling that is not attached to real property (i.e., land).
 
There is also a partial exemption for certain transactions associated with housing assistance loan programs for low- and moderate-income consumers.
 
Certain types of loans that (prior to this new rule) were subject to TILA but not RESPA are subject to the TILA-RESPA rule's integrated disclosure requirements, including:  construction-only loans and loans secured by vacant land or by 25 or more acres.  Credit extended to certain trusts for tax or estate planning purposes also are covered.
 
 
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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