Frontline Compliance

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  • Reg Z HELOCs (Open-End Credit)
  • Reg Z HOEPA and High-Cost Mortgage Loans
  • Reg Z Installment and Home Equity Loans (Closed-End Credit)
  • Reg Z Mortgages (Closed-End Credit)
  • Reg Z Non Home Secured (Open-End Credit)
  • Reg Z Overview
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  • Reg Z Right of Rescission
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  • Sexual and Workplace Harassment for Managers
  • The Consumer Remittance Rule
  • The S.A.F.E. Act – Secure and Fair Enforcement for Mortgage Licensing Act
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  • TILA-RESPA Integrated Disclosures
  • Good Faith Estimate and HUD-1
  • Quick Links

    TILA-RESPA Integrated Disclosures

    TILA-RESPA Integrated Disclosures

    SELF-PACED ONLINE COURSE: ABA ELEARNING

    Price: $95 members; $130 non-members
    Member Online Enrollment | Non-Member Online Enrollment
    This course is also available at discounted prices under an annual license.  Call or email for details. This course is available to ABA Member banks at no cost under a license agreement.

    Course Description:  

    This course explains the background and purpose of the TILA-RESPA Integrated Disclosure Rules. This course provides an overview of the Loan Estimate (LE) and Closing Disclosure (CD) and the timing requirements. This course emphasizes factors to comply with TRID rules regarding restrictions on fees, misaligned mortgage rules, and timing requirements.

    Audience:  Any branch staff who discuss mortgage products with consumers or take mortgage loan applications, including loan originators, mortgage loan originators, loan processors, mortgage operations staff and loan servicers.

    Learning Objectives:  

    After completing this course, students will be able to: 

    • Describe the purpose of the new TILA-RESPA Integrated Disclosure rules and identify the types of transactions that are covered under the TRID rules and which are not covered
    • Explain the timing requirements for providing the Loan Estimate (LE) and when a revised LE is required and when it is allowed
    • Recognize the tolerance variations for three categories of fees
    • Explain the timing requirements for providing the Closing Disclosure (CD) and when a revised CD is required and when it is allowed
    • Identify important considerations for complying with TRID rules

      Background

      The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) directed the Consumer Financial Protection Bureau (CFPB) to integrate the mortgage loan disclosures under certain sections of TILA and RESPA.

      Changes to the Forms

    • The Good Faith Estimate (GFE) and the initial Truth-in-Lending disclosure have been combined into a new form, the Loan Estimate form (LE).
    • LE also incorporates the appraisal notice required by Reg B and the appraisal language required under Reg Z for Higher-Priced Mortgage Loans, the servicing disclosure statement, and the homeowner’s insurance disclosure.
    • The HUD-1 and final Truth-in-Lending disclosure have been combined into another new form, the Closing Disclosure (CD).
    • Effective dates – applications on or after August 1, 2015
    • What loans TRID applies to
    • What loans TRID does not apply to

      Loan Estimate
    • Description of Loan Estimate.
    • Loan Estimate sample.
    • Link to TRID Business Day Reference Guide.
    • When to issue the Loan Estimate.
    • What triggers a completed application.
    • How long consumer must wait before loan can close.
    • Loan Estimate requirements.
    • Three categories of fees and tolerances.
    • Revisions and corrections to Loan Estimates.
    • Link to Loan Estimate Reference Guide.

      Closing Disclosure
    • Description of the Closing Disclosure.
    • Timeframe to issue the Closing Disclosure.
    • Closing Disclosure sample.
    • Revisions and corrections to Loan Estimates.
    • When to provide a revised Closing Disclosure.
    • Link to Closing Disclosure Reference Guide.

      Important Considerations
    • Creditor responsible for content and errors on the forms.
    • New information requirements.
    • Details on complying with TRID rules.

    Course Credits:  ICB: 1.0 CRCM

    The Nebraska Bankers Association is a Local ABA Training Provider.

    For More Information Contact:


    Joanne Smith
    Education and Member Information Coordinator

    Nebraska Bankers Association / 233 South 13th Street, Suite 700 / PO Box 80008 / Lincoln, NE 68501-0008