Washington Report

Advocacy Updates from Washington D.C.

On Tuesday May 26, 2015, CFPB and the Federal Reserve Hosted a webinar on RESPA/TILA integration to prepare for the August 2015 implementation. Concerns remain about the rule however CFPB did clarify that pre-approval letters are still viable under the rule. NAR continues to advocate for a grace period through the end of 2015 that would delay enforcement and liability to the slower winter months when fewer consumers would be negatively impacted. As the CFPB moves ahead with implementation, REALTORS® remain committed to working with the agency and our industry partners so that consumers only benefit from the new rules. To learn more about the upcoming RESPA/TILA implementation, visit www.nar.realtor/respa.

CFPB Webinar

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