News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Construction Industry

Orrick, Herrington & Sutcliffe LLP

CFPB approves pilot program for construction loans

On November 21, the CFPB announced it approved an application from a community banking trade organization to pilot disclosures for construction loans. The application was submitted pursuant to the CFPB’s trial policy programs...more

Ballard Spahr LLP

CFPB Approves Trial Disclosure Program Waiver Template Application for Construction-to-Permanent Loans

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The CFPB recently approved an application (Application) from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA)...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 5, May 2023

Survey Finds Small-Business Lending Fraud on Rise - “Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to...more

Ballard Spahr LLP

CFPB Updates TRID Rule FAQs to Address Construction Loans

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The CFPB recently updated the TILA/RESPA Integrated Disclosure (TRID) rule FAQs to address construction loans. The guidance falls well short of what the industry is seeking from the CFPB....more

Carlton Fields

The ILSA Condo Exemption – Not Out of the Woods Yet

Carlton Fields on

The Interstate Land Sales Full Disclosure Act (ILSA) is a federal statute that aims to prevent land sales fraud and uninformed purchases of unimproved real property by requiring registration of subdivisions with the Consumer...more

Ballard Spahr LLP

CFPB Staff Presents TRID Rule Webinar

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The Consumer Financial Protection Bureau (CFPB) staff presented an informational webinar on March 1, 2016, to address several issues with the TILA/RESPA Integrated Disclosure (TRID) rule in connection with...more

Ballard Spahr LLP

CFPB Construction Loan "Fact Sheet" Falls Far Short of Necessary Guidance

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has issued a "fact sheet" regarding the disclosure of construction-to-permanent loans under the TILA/RESPA Integrated Disclosure (TRID) rule, which the CFPB refers to as the...more

BakerHostetler

CFPB Releases Guidance on Construction Loan Disclosures

BakerHostetler on

On January 12, the CFPB released a Construction Loans Fact Sheet reviewing the basics of construction loan disclosures under the TILA/RESPA Integrated Disclosure (“TRID”) Rule. This resource briefly summarizes the TRID...more

Bilzin Sumberg

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

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