After more than a year in development, the CFPB has proposed forms and rules to integrate the disclosure requirements for mortgage loans under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). This major proposal would radically alter the existing disclosure forms and likely alter closing practices. Topics to be covered concerning this significant proposed rulemaking include:

  • The format and content of the proposed Loan Estimate and Closing Disclosure, and the disclosures that would be replaced by the proposed forms 
  • The revision to the existing definition of an "application" that would trigger the requirement to provide a Loan Estimate 
  • The approach to define what constitutes a "good faith" estimate of costs that would essentially impose stricter versions of the existing tolerances under RESPA 
  • The requirement that the Closing Disclosure be received by the borrower at least three business days before consummation, and that it be reissued with a new waiting period under certain conditions 
  • The alternative proposals for who prepares the Closing Disclosure 
  • The requirement if written cost estimates are provided to a consumer before the consumer receives a Loan Estimate 
  • The requirement to maintain electronic versions of the Loan Estimate and Closing Disclosure 
  • The proposal to expand the items that are included in the finance charge and annual percentage rate, under which only four categories of fees would be excluded


12:00 PM - 1:00 PM ET | Webinar


Richard J. Andreano, Jr., Practice Leader, Mortgage Banking Group

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all registrants. For more information, contact Lisa Prickril at