On June 3, 2015, the National Association of REALTORS® and the Community Mortgage Lenders of America (CMLA) hosted a meeting in Arlington, Va., to discuss the latest information in the mortgage, title and housing industry. Attendees heard from government officials, industry leaders and NAR senior staff on a variety of subjects including TILA-RESPA Integrated Disclosure (TRID) issues, RESPA enforcement, FHA, Fannie Mae and Freddie Mac reform, the state of the economy and other key topics.
A main focus of the meeting was RESPA. The event featured panels on RESPA that covered the upcoming TRID implementation, technology issues, marketing service agreements and enforcement issues. To find out what was discussed at these three sessions, please listen to the audio recordings below and review the accompanying presentations.
RESPA-TILA TRID Overview
This panel focused on the new TRID forms that were to be implemented on August 1, 2015. However, the Consumer Financial Protection Bureau (CFPB) has proposed delaying implementation until October 3, 2015. Panelists gave a brief summary on why the new forms were created, provided an overview of the new disclosure forms, and highlighted how the new requirements will impact the settlement process.
RESPA-TILA and Technology
This panel focused on how the new TRID rule is impacting companies that provide products and services to lenders and settlement/closing providers. Panelists discussed the efforts required of mortgage technology providers and the changes they are implementing to adhere to the new compliance guidelines.
RESPA and Other CFPB Enforcement
This panel focused on recent actions taken by the CFPB as it relates to RESPA violations. Panelists provided overviews of cases where companies had been fined by the CFPB for infractions related to RESPA. Speakers also highlighted other actions the CFPB is undertaking relating to marketing service agreements.