The hot topic in the lending industry is the preparations necessary to implement Integrated Disclosures under RESPA/TILA this coming August. As well it should be, after all this is only going to change the way we’ve done business for the last 30 years. That’s right, we are bidding farewell to the old ways of providing a Good Faith Estimate (GFE) and an initial Truth-in-Lending (TIL) as part of the application and initial disclosure process. So long are the days of closing out transactions with a Final TIL and the HUD-1 Settlement Statement. Soon we’ll be moving to the new Loan Estimate and Closing Disclosure, both hitting the scene on August 1, 2015. Will you and your affiliated partners be ready? There’s a lot to learn, a lot to understand about the impact, and a lot that will need to change prior to the effective date.
With this in mind, Virginia Title Center is sponsoring a luncheon seminar with the Blue Ridge Mortgage Lenders on March 12 from 11:30 a.m. to 1:30 p.m. at the Salem Civic Center. This seminar is in partnership with the Roanoke Valley and New River Valley Associations of REALTORS®. Who should attend? Mortgage lenders, real estate attorneys, REALTORS®, and support staff for each. Click here to access more information and a registration form.
Together We’re Prepared!