The CFPB updated its small entity compliance guide and new mortgage disclosure form guide for the merger of the Truth in Lending Act and the Real Estate Settlement Procedures Act. The rule, which takes effect August 1, 2015, merges the TILA and RESPA-mandated disclosures into two forms: the Loan Estimate and the Closing Disclosure.
The CFPB also issued a new sample disclosure timeline illustrating what actions would be expected of a creditor at different stages of the origination process.
Read the small entity compliance guide.
Read the guide to the forms.
View the disclosure timeline.
View CFPB resources on the TILA-RESPA integration.