San Diego Coastal Real Estate Broker with BHHS
Call Molly: (619) 985-2726

TILA-RESPA Integrated Disclosure Rule

posted by: mmckay in For Buyers, For Sellers

Change Ahead!

I spent the better part of the day yesterday at the Scottish Rite Center (that was an experience in itself!) listening to some of our top executives/affiliates at BHHS discuss the new CFPB (consumer Financial Protection Bureau) required changes that will be coming into effect Aug 1st, 2015 regarding lending practices. It’s all to protect the consumer and to avoid another crash as we saw back in 2008. I’m happy to see these regulations being made in order to protect the consumer’s privacy and taking greater strides to ensure consumers actually know what they’re signing and obtaining with their mortgage. It could potentially be a bumpy road as realtors, lenders, escrow firms and title companies work together to iron out kinks and close transactions on time; however, I feel confident that I have the knowledge and organizational skills to protect my clients through this transition and educate them from start to finish! The link below gives more detailed information, if you’re interested in learning more.

TILA-RESPA Information Sheets

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