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Every year major changes in Real Estate Lending Compliance appear and this year is no exception. The continued expansion of the integrated disclosure rules (TRID) continues with massive changes published in July 2017, with mandatory compliance on October 1, 2018. The new Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) was signed into law on May 24, 2018. It impacts several sections of Regulation Z. Some of the revised provisions were effective upon enactment, other sections are delayed. Clarification to Regulation B government monitoring information requirements has been published. Massive revisions to HMDA/Regulation C were effective January 1, 2018 and are impacted by EGRRCPA. The program and the manual have been completely updated for these rules.
- Truth in Lending Act (Regulation Z) – includes final TRID rules effective October 1, 2018, a recent final rule dealing with the “black hole” that is effective on June 1, 2018, and a review of EGRRCPA revisions;
- Real Estate Settlement Procedures Act (Regulation X) – includes a review of final servicing rules that were effective April 19, 2018;
- Equal Credit Opportunity Act (Regulation B) – includes clarification on the revised rules for collection of government monitoring information and the new residential mortgage loan application;
- Fair Housing Act – includes a review of recent enforcement actions and an explanation of the reasonably expected marketing area (REMA) concept;
- Home Mortgage Disclosure Act (Regulation C) – includes the major new Regulation C rules that are effective for the most part on January 1, 2018 and a review of EGRRCPA revisions;
- Flood Insurance Rules – includes the Private Flood Insurance rules for which final rules are pending;
- Homeowners Protection Act;
- Fair Credit Reporting Act – includes a review of the EGRRCPA revisions;
- Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) – includes a review of the EGRRCPA revisions; and
- Unfair, Deceptive or Abusive Acts or Practices.
In this 400+ page manual, you’ll receive coverage of 10 major federal real estate lending compliance topics.