In This Section
Take advantage of MBA's compliance resources to ensure that your company remains up-to-date with the latest regulations.
On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a new final Home Mortgage Disclosure Act (HMDA) rule that includes significant changes to the reporting requirements for lenders under HMDA, as well as changes in coverage of institutions and transactions and reporting.
The TILA RESPA Integrated Disclosure (TRID) rule's October 3, 2015 implementation deadline has passed. This massive rule weighs in at nearly 2,000 pages and impacts all businesses that touch a residential mortgage, as well as homebuyers. The Consumer Financial Protection Bureau (CFPB) is enforcing this rule. Compliance presents a challenge, as it requires large-scale operational changes for lenders, title companies and many more.