Realtors® Urge CFPB Grace Period for RESPA-TILA Integrated Disclosure Rule

WASHINGTON (May 14, 2015) – The National Association of Realtors® urges the Consumer Financial Protection Bureau to implement a grace period for those seeking to comply in good faith with new rules for loan closing procedures and settlement documents.

The Real Estate Settlement Procedures Act and Truth in Lending Act integrated disclosure rule is set to take effect August 1. A trial period with restrained enforcement and liability would allow the industry and CFPB to address implementation issues and minimize costly home closing delays for consumers, said NAR President… Read More

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