Tag : CFPB

CFPB Issues Factsheet on Assumptions Under TRID

Almost four years after TRID took effect, on May 1st the CFPB issued a factsheet designed to give lenders guidelines for when an assumption of an existing loan by a new consumer requires them to deliver TRID disclosures (Loan Estimate and Closing Disclosure) to the new consumer.

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Illinois Legislative and Federal Regulatory Update

The Illinois legislature recently amended provisions of its Residential Mortgage License Act (“Act”), effective December 19, 2018.  The Consumer Financial Protection Bureau (“CFPB”) announced the asset-size exemption thresholds for 2019 for Regulation C and Regulation Z.   ILLINOIS HOUSE BILL...

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