Mortgages, Closing Documents

A “Note” About Your Mortgage. There is a Difference.

Fox Rothschild LLP on 10/6/2023

Most of us wander through life unconcerned about the vagaries of house finance laws until we decide we want a house. Candidly, because of how house purchases come about, most of us don’t know much about mortgage financing...more

Issues To Consider On The Path Forward For The Hospitality Industry

Goodwin on 11/24/2020

It is hard to pick any event or series of events that has adversely impacted the hospitality industry as hard as the COVID-19 pandemic. While the summer witnessed increased RevPAR in the U.S. as compared to the depths of...more

CFPB Publishes TRID FAQ’s and a Factsheet on Treatment of Title Insurance Premiums

Ballard Spahr LLP on 6/18/2020

On June 9, 2020, the CFPB published four new TRID FAQ’s and a TRID Factsheet (“Factsheet”). While the Factsheet is focused solely on the handling of title insurance disclosures under the rule, the FAQ’s cover various topics,...more

Update: COVID-19 & Real Estate and Mortgage Closings

Ballard Spahr LLP on 3/19/2020

The impact of the coronavirus (COVID-19) on real estate and mortgage closings is rapidly evolving. Several new policies and procedures have been established by title insurance underwriters related to the impact over the past...more

7 Tips for Your South Carolina Residential Home Purchase Closing (or 7 Things Your Real Estate Lawyer Wishes You Knew)

Burr & Forman on 3/19/2020

Congratulations! You finally are buying your dream home in the Lowcountry! For most of us, purchasing a home is the biggest financial investment we make. In South Carolina, lawyers are required by law to supervise residential...more

CFPB Publishes TRID Guides on Construction Loans

Ballard Spahr LLP on 12/20/2019

Although the 2017 amendments to the TRID rule, often referred to as TRID 2.0, added commentary to TRID provisions of Regulation Z and, particularly, Appendix D to Regulation Z, that addresses multiple advance construction...more

Anatomy of a Real Estate Transaction—Financing

Whitman Legal Solutions, LLC on 10/28/2019

Financing arrangements are like the themes and tonality in a musical composition. Different aspects of the financing process occur at different points in the real estate transaction. Yet, most real estate buyers depend...more

CT Law Requires CT Attorney to Conduct Certain Mortgage Closings

Ballard Spahr LLP on 9/6/2019

Public Act No. 19-88 requires an attorney admitted in Connecticut in good standing to “conduct” a “real estate closing.” It takes effect October 1, 2019. The term “conduct” is not defined. A “real estate closing” includes a...more

CFPB Issues Guidance On Applicability Of TRID Rule To Assumptions

Ballard Spahr LLP on 5/2/2019

The CFPB recently issued a factsheet addressing whether a Loan Estimate and Closing Disclosure are required in connection with the assumption of a residential mortgage loan....more

CFPB Publishes Informal Guidance on the TRID Rule

Ballard Spahr LLP on 2/5/2019

For years, the mortgage industry has urged the CFPB to issue informal written guidance on the TILA/RESPA Integrated Disclosure (TRID) Rule, as well as other rules. ...more

Privacy Tip #155 - Home Buyers Tricked Out of Down Payments by Scammers

Robinson+Cole Data Privacy + Security Insider on 9/11/2018

An old trick is coming back and working. It is a wire fraud scheme targeted at homeowners instead of businesses, and it is happening at an alarming rate....more

CFPB Revises TRID Guides to Reflect Black Hole Fix

Ballard Spahr LLP on 5/17/2018

The CFPB recently issued revised TILA/RESPA Integrated Disclosure (TRID) rule guides to reflect the adoption of an amendment to the rule to fix the so-called “black hole” issue. ...more

Mortgage lenders: The “black hole” has closed

Bricker Graydon LLP on 5/9/2018

In astronomy, there can be no escape from a black hole. In the world of residential mortgage lending, the CFPB has charted a new course, finally creating an escape from one of TILA/RESPA’s most impracticable rules. On April...more

CFPB Finalizes Black Hole Fix under TRID Rule

Ballard Spahr LLP on 4/30/2018

The CFPB, which is now referring to itself as the “Bureau of Consumer Financial Protection,” published the long-awaited final rule to address the so-called “black hole” issue under the TILA/RESPA Integrated Disclosure (TRID)...more

CFPB Finalizes Black Hole Fix under TRID Rule

Ballard Spahr LLP on 4/30/2018

The Consumer Financial Protection Bureau (CFPB) published the long-awaited final rule to address the so-called "black hole" issue under the TILA/RESPA Integrated Disclosure (TRID) rule. ...more

CFPB updates TRID Rule small entity compliance guide

Ballard Spahr LLP on 10/12/2017

The CFPB recently released a revised version of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October...more

TRID Rule Amendments and Proposal Published

Ballard Spahr LLP on 8/11/2017

As we reported previously, on July 7, 2017 the Consumer Financial Protection Bureau (CFPB) posted on its website long awaited amendments to the TILA/RESPA Integrated Disclosure (TRID) rule, and a proposal to address the...more

CFPB Adopts TRID Rule Amendments and Proposes to Address Black Hole Issue

Ballard Spahr LLP on 7/24/2017

As we reported previously, the Consumer Financial Protection Bureau (CFPB) recently issued long-awaited amendments to the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID)...more

CFPB issues Spring 2017 rulemaking agenda

Ballard Spahr LLP on 7/21/2017

The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

CFPB Finalizes TRID Rule Clarifications

Alston & Bird on 7/19/2017

Our Financial Services & Products Group gets to know the Consumer Financial Protection Bureau’s long-awaited final TILA and RESPA Integrated Disclosure (TRID) Rule. - The black hole - Highlighted variations - Possible...more

The CFPB Finalizes Some, But Not All, Amendments to TRID

Balch & Bingham LLP on 7/13/2017

The Consumer Financial Protection Bureau (CFPB) recently finalized various updates to its mortgage disclosure rule, often referred to as “Know Before You Owe” or the TILA-RESPA Integrated Disclosures (TRID). The updates were...more

CFPB Finalizes Amendments to the TILA-RESPA Integrated Disclosure (TRID) Rule

Kilpatrick on 7/12/2017

On July 7, the Consumer Financial Protection Bureau (Bureau) finalized amendments to federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) that...more

CFPB Finalizes TRID Rule Amendments, Punts on Black Hole Issue

Ballard Spahr LLP on 7/10/2017

The CFPB finalized the long-awaited initial round of amendments to the TILA/RESPA Integrated Disclosure (TRID) rule, also known as the Know Before Your Owe rule. However, instead of addressing the so-called “black hole”...more

CFPB issues executive summary of TRID Rule amendments

Ballard Spahr LLP on 7/10/2017

The CFPB recently issued final amendments to the TILA/RESPA Integrated Disclosure (TRID) rule and a proposal to further amend the TRID rule. The CFPB has also issued an Executive Summary of the amendments....more

Real Property & Title Insurance Update: Week Ending March 31 & April 7, 2017

Carlton Fields on 4/12/2017

REAL PROPERTY UPDATE - Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an...more

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