Integrated Mortgage Disclosures rule to hit credit unions

first_imgThere is a major storm moving toward credit union mortgage lenders and it will arrive Aug. 1.That is the date the RESPA-TILA Integrated Mortgage Disclosures Rule will go into effect.The new rule will usher in a complete change to the disclosure forms sent to borrowers as they close their mortgages.These changes were high on the minds of mortgage professionals earlier this year.And Gaye DeCesare, president and CEO of Compliance Assistance for Credit Unions said the TILA/RESPA integrated disclosures are still the No. 1 compliance challenge facing credit unions today. (COMPASS 4 CUs is a wholly owned subsidiary of $327 million-asset Belvoir Credit Union of Woodbridge, Va.) continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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