CFPB News

The Latest CFPB News

In response to the late 2000s recession and financial crisis, the President signed the Dodd-Frank Act in July 2010, establishing the Consumer Financial Protection Bureau (CFPB). As a result, the Department of Housing and Urban Development (HUD) no longer regulates the Real Estate Settlement Procedures Act (RESPA), and the Federal Reserve no longer regulates the Truth in Lending Act (TILA). The authority to regulate both now belongs to the CFPB. The Dodd-Frank Act requires the CFPB to reform the TILA and combine those disclosures with the RESPA requirements governing the Good Faith Estimate (GFE) and HUD-1 Settlement Statement. On Nov. 20, 2013, the CFPB issued its final rule on combined mortgage disclosures with an Aug. 1, 2015 effective date. Read more about this process and the current status below.

TRID

News involving the new integrated disclosure form.
09/21/2015
National Mortgage News
06/22/2015
Mortgage Compliance Magazine
06/18/2015
National Mortgage Professional
06/11/2015
National Mortgage Professional

Enforcement Actions  


News related to CFPB penalizing, fining or taking action against banks, titles companies, underwriters, etc.

Lessons From the CFPB/Wells/Chase Order
01/28/2015
MDN
CFPB Takes Action Against Wells Fargo and JPMorgan Chase for Illegal Mortgage Kickbacks
01/22/2015
CFPB

Bureau News  

News about the CFPB, the organization and its leadership.

CFPB Announces New Industry Advisory Board Members
09/18/2015
Housingwire
Supervision and Examination Manual Updated
09/15/2015
CFPB
CFPB Gives Alternative to Customer Service Frustrations
09/03/2015
TribLive
NAFCU to CFPB: Fix Your Consumer Complaint Database
08/28/2015
Housingwire
Warren vs. Cruz Over the Future of the CFPB
07/23/2015
National Mortgage Professional Magazine
CFPB 'Snapshot' Draws More Attention to Complaint Database
07/16/2015
DSNews
Senate Banking Puts CFPB and Cordray in the Crosshairs
07/14/2015
Housingwire
TLTA Provides CFPB Comment Letter
07/08/2015
TLTA
What to Expect When You're Expecting a CFPB Administrative Action
07/06/2015
Housingwire
CFPB Asks For Comments on Enhanced Consumer Compliant Database
07/01/2015
Housingwire
CFPB Proposes Two-Month Extension of "Know Before You Owe" Rule
06/25/2015
CFPB
The Grace Period That Wasn't: CFPB Stays Course on New Disclosures
06/03/2015
National Mortgage News
ALTA President to Testify Tomorrow before House Financial Services Subcommittee
05/13/2015
ALTA
CFPB Announces Update to Mortgage Origination Examination Procedures
05/06/2015
CFPB
CFPB Announces Webinar on Integrated Disclosure Rule
05/06/2015
CFPB

Industry News

CFPB news related to the title, insurance and/or mortgage banking industries.

CFPB Finalizes Rule to Facilitate Access to Credit in Rural and Underserved Areas
09/21/2015
CFPB
Texas Association of Realtors® Creates Permission Form for Releasing Closing Disclosure to Real Estate Agents
06/11/2015
TAR
Texas Association of Realtors Educating Members on TRID
05/06/2015
Housingwire
TLTA Members Give TRID Update at TMBA Conference
05/06/2015
TLTA
Survey: TRID Impact Riles Most Mortgage Bankers
04/30/2015
Housingwire
New, Simpler Mortgage Disclosure Forms Could Delay Closings
04/20/2015
Realtor.com
Lenders Will Begin Asking Title Insurance Agents About Data Security
04/11/2015
LOMAP Massachusetts
The Underappreciated Impact of Dodd-Frank: The Rise of Federal and State Regulatory Cooperation
04/09/2015
DS News
It Will Take a Village to Close a Mortgage in 2015
04/03/2015
Inman News

CFPB Education

Links to TLTA's CFPB classes
Program TitleTopicEscrow CE HoursDate Recorded
CFPB, TRID and RESPACFPB, Certification Topic1.5010/12/2016CTR16OD

TLTA CFPB Update News

TLTA coverage and more information about this issue.
February 2015
March 2015
June 2015
September 2015
 

Reference

Additional information and resources about this issue, including rules, forms, websites or other documents.
How TDI Regulates and Oversees Title Insurance Agents    
CFPB Own a Home Tool    
CFPB eRegulations    
CFPB Final Rule Breakdown
CFPB Final Rule Combining Mortgage Disclosure Forms 
 

TLTA Letters to the CFPB on Aspects of the Proposal

On the Mortgage Closing Process
Letter
 
For Shared Responsibility of Form
Letter
Talking Points
Against Three-Day Waiting Period
Letter
Talking Points
For Standardized Closing Disclosure Form
Letter
Talking Points
Against Machine Readable Requirement
Letter
Talking Points
Against Inclusion of Title Insurance in APR
Letter
Talking Points

Joint Industry Letter Against Inclusion of Title Insurance in APR
Round 5 of Combined Mortgage Disclosure Forms
Round 3 of Combined Mortgage Disclosure Forms
Round 2 of Combined Mortgage Disclosure Forms
Round 1 of Combined Mortgage Disclosure Forms
 
 

Additional Resources

CFPB Press Release on Final Rule Combining Mortgage Disclosure Forms  
CFPB Proposed Rule Combining Mortgage Disclosure Forms
SBREFA Outline of Proposals Under Consideration and Alternatives Considered
Restoring American Financial Stability Act of 2010 (Dodd-Frank Act)
Dodd-Frank Act Summary
H.R.3126 Establishing the CFPB
Consumer Financial Protection Bureau Website