Finance & markets · 19/02/2015

CFTC Proposes Amendments to 2013 Mortgage Disclosure Rules

The Commodity Futures Trading Commission (CFTC) has proposed changes to the 2013 Integrated Mortgage Disclosures Rule under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z), as well as the 2013 Loan Originator Rule under the Truth in Lending Act (Regulation Z). The proposed rule aims to modify the 2013 TILA-RESPA Final Rule, extending the timing requirement for revised disclosures and allowing certain language related to construction loans on the Loan Estimate. The CFTC is also making non-substantive corrections to various provisions of Regulations X and Z.