CFPB Announces TRID Postponment

CMLA Advocacy, Regulatory

The Consumer Financial Protection Bureau (CFPB) today announced a postponement of the effective date for the TILA-RESPA Combined Disclosure regulations (TRID) to October 1, 2015 from August 1, 2015. A copy of the brief announcement from the CFPB can be accessed here. CMLA, together with an industry coalition of lender associations and groups representing settlement service providers, has urged an …

CMLACFPB Announces TRID Postponment

TRID “Non-Grace” Period

CMLA Advocacy, Regulatory

CMLA, representing small and mid-size, community-based mortgage lenders, disagrees that yesterday’s statement by the CFPB is sufficient to establish an enforcement grace period following the August 1 TRID implementation. The community-based lenders we represent are making strenuous efforts to be fully prepared by August 1, but are concerned that TRID requires immediate implementation, with no transition period. A grace period, …

CMLATRID “Non-Grace” Period

Congress Considers TRID Enforcement Moratorium

CMLA Advocacy

Proposed legislation would mandate an enforcement moratorium following the August 1st implementation of the combined RESPA-TILA (TRID) disclosure. The bill, recently introduced, would prohibit both enforcement by the Consumer Financial Protection Bureau (CFPB) as well as by private lawsuits from August 1, 2015 to December 31, 2015 for the TRID regulations. Lenders would still be required to comply with the …

CMLACongress Considers TRID Enforcement Moratorium