The support material, entitled "2017 TILA-RESPA Rule: Detailed Summary of Changes and Clarifications," provides a comprehensive summary of the 2017 TILA-RESPA rule, as well as examples of how to apply the final rule’s provisions.
Topics covered by the support material include:
- effective date and mandatory compliance date, including an optional compliance period;
- application of the mortgage disclosure requirements to cooperative units and trusts;
- treatment of tolerances and good faith requirements;
- shopping for settlement services;
- principal curtailments;
- total of payments disclosure;
- simultaneous subordinate lien loans;
- construction loans;
- the use of positive and negative numbers for certain disclosures;
- payoff disclosures; and
- separation of consumer and seller information on closing disclosures.