On November 18, 2014 the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve held their fourth webinar on changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new rule combines the Good Faith Estimate with the Truth in Lending (TIL) disclosure now called the "loan estimate" and the HUD-1 settlement statement with the final TIL, now called the "closing disclosure." It also makes numerous changes to the settlement process. Perhaps the greatest change is that the closing disclosure must be in the hands of the consumer three days before closing. The webinar covers this and other important issues relating to the new rule which goes into effect on August 1, 2015. The webinar is now posted on the CFPB website at the link below.