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RESPA: Proposed Rule Regarding Integrated Mortgage Disclosures Under RESPA and TILA Released

The Consumer Financial Protection Bureau (CFPB) published a proposed rule on July 9, 2012, "regarding the "Integrated Mortgage Disclosures” under the Real Estate Settlement Procedures Act (RESPA) and the Truth In Lending Act (TILA). The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the CFPB to issue proposed rules and forms that combine certain disclosures that consumers receive in connection with applying for and closing on a mortgage loan under TILA and RESPA.  Comments must be submitted by November 6, 2012, with the exception of 12 CFR 1026.1(c) and 1024.4, in which case, comments are due on or before September 7, 2012.

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