When Your Clients Ask You About CFPB – Some Useful Pointers

Buyers and Sellers often ask questions about the technicalities of mortgages, title insurance, the closing process, closing costs, and the effects on closing of TILA-RESPA, TRID or the CFPB. Occasionally a TV program or an online article prompts the question.
At ITP we like to keep everyone informed about things, and it has been a […]

By |July 28th, 2016|buying a home, CFPB, selling a home|Comments Off on When Your Clients Ask You About CFPB – Some Useful Pointers

CFPB’s New TRID Regulations – A Short Update

The new rules, which we all refer to as ‘Know Before You Owe,’ were established by the Consumer Finance Protection Bureau (CFPB) and went into effect on October 4th of this year.

The full title of the regulation is The Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule,shortened to TILA-RESPA-TRID, or just […]

By |December 28th, 2015|buying a home, CFPB, home closing|Comments Off on CFPB’s New TRID Regulations – A Short Update

HUD-1: The New TILA-RESPA Rules Go Live

The Consumer Financial Protection Bureau’s new rules came into force on October 3rd. TRID (TILA-RESPA Integrated Disclosure) will affect most mortgage lenders and most consumers (borrowers) who intend securing a loan with real property that has between 1 and 4 residential units attached to it.

The changes will help borrowers to be clear about their […]

By |October 29th, 2015|CFPB, government, home closing|Comments Off on HUD-1: The New TILA-RESPA Rules Go Live

Will TILA-RESPA Delay My Closing?

A question people frequently ask is “How likely is it that the new TILA-RESPA rules will delay our closing?” The short answer is “Very unlikely.” We say that for several reasons. One is that we will be handling your closing. Another is that we have a very good working relationship with excellent mortgage lenders […]

By |August 27th, 2015|buying a home, CFPB, home closing|Comments Off on Will TILA-RESPA Delay My Closing?

TILA-RESPA + CFPB Still = No Steep Closing Fees at ITP

There have been many changes put in place and still planned for 2015. The CFPB monitors lenders on behalf of the consumer to ensure they are protected. As a third party service provider, title agencies are required to have in place written procedures to ensure compliance with the standards that lenders must meet. The […]

By |July 30th, 2015|buying a home, CFPB, fees, home closing, ITP|Comments Off on TILA-RESPA + CFPB Still = No Steep Closing Fees at ITP

The CFPB and its Effect on the Title Industry

The Consumer Finance Protection Bureau (CFPB) has impacted title agency work in a number of ways. To the outside world the more obvious changes have been delayed until October 1st. Realtors and other real estate professionals, as well as consumers, will not be impacted by the Closing Disclosure Form (the new HUD-1) or the […]

By |July 24th, 2015|CFPB, government, title industry|Comments Off on The CFPB and its Effect on the Title Industry

How the CFPB Affects the Title Industry

The Consumer Financial Protection Bureau (CFPB) is an independent United States government agency responsible for protecting consumers in the financial sector. Their jurisdiction extends over banks, credit unions, mortgage lenders, and other financial companies. Their effect in terms of the title industry is mostly felt by title insurance agencies and by settlement agents. Though […]

By |April 10th, 2015|CFPB, government, title industry, title insurance|Comments Off on How the CFPB Affects the Title Industry