TILA-RESPA Integrated Disclosure

Beginning Oct. 3, 2015, REALTORS® and their clients will face new rules which govern how mortgages will be handled. Under the Real Estate Settlement Procedures Act and the Truth in Lending Act, new procedures and timelines will be implemented which could result in closing delays.
  • Implementation date now set for October 3rd
  • New “Loan Estimate” form replaces initial truth-in-lending and Good Faith Estimate forms
  • Loan Estimate form must be delivered to consumer within three business days of their application for a loan
  • Pre-Approval and Pre-Qualification letters are still allowed
  • New “Closing Disclosure form replaces final truth-in-lending disclosure and HUD-1 form
  • New rules could cause delay in closings. (Source)


August 2015 Member Outreach: RESPA-TILA Integrated Disclosure Enforcement [VIDEO] Illinois Association of REALTORS® Resources National Association of REALTORS® Resources National Association of REALTORS® Field Guide to TRID Consumer Financial Protection Bureau ‘Know Before You Owe’ Guide


Update 10-12-15: Bill Proposing TRID Hold-Harmless Period Passes House Update 10-12-15: House passes TRID ‘hold harmless’ bill 6 Things You Need to Know About the New Integrated Disclosure Rules TRID Start Date Bumped to Oct. 3 The Top 5 Things to Know About TRID Now CFPB Takes First Steps Toward Greater Clarity on RESPA-TILA Integrated Disclosure Enforcement