WASHINGTON (11/10/14)--The fourth in a series of Consumer Financial Protection Bureau (CFPB) hosted discussions about the new Truth in Lending Act-Real Estate Settlement Procedures Act (TILA-RESPA) integrated disclosures rule has been scheduled for Nov. 18. The bureau, which proposed the rule, has hosted webinars throughout the implementation period.
The rule, which becomes effective Aug. 1, 2015, consolidates existing mortgage disclosures required under TILA and RESPA into two forms designed to make it easier for consumers to understand and locate key information. It is also meant to integrate the requirements for providing these disclosures to consumers.
The session will focus on issues related to how to complete the closing disclosure by addressing specific questions related to rule interpretation, as well as implementation challenges raised by creditors, mortgage brokers, settlement agents, software developers and other stakeholders.
According to the CFPB, it anticipates a "substantial volume of compliance and interpretive questions during implementation, and plans to use these webinars to consolidate and address these questions in a way that promotes consistent understanding of the rules and provides a resource that stakeholders may reference."
The event's website features registration information, as well as recordings of the previous webinars, which took place in June, August and October. The event is scheduled to run from 2 to 3 p.m. (ET) Nov. 18.