Video

  • 32 minutes

Closing Disclosure Rules and a Tour of the Closing Disclosure Form

 
The Bureau had to decide who provided the closing disclosure, and under the old regime the creditor provided the truth in lending and the settlement agent provided the HUD-1 to the borrower and to the seller in a purchase transaction. They have now switched that responsibility for the entire document to the creditor but allow the creditor to permit the settlement agent to provide the borrower’s version of the closing disclosure but the creditor remains liable. The settlement agent is responsible for providing the seller’s version of the closing disclosure to the creditor.

In this 31-minute video our speaker, Richard J. Andreano, reviews details regarding the timing of the closing disclosure, and details on revisions and exceptions in the closing disclosure. He also discusses recording keeping regulations and provides information on where to find additional Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) rule information. Mr. Andreano walks through a closing disclosure page by page explaining different versions of disclosures.

Richard J. Andreano is a partner and practice leader of the mortgage banking group at Ballard Spahr LLP. He counsels clients on residential mortgage regulatory matters, including ability to repay, TILA/RESPA integrated disclosure (TRID) rule, CFPB supervision and examination, UDAAP and other Dodd-Frank matters.
Runtime: 32 minutes

Faculty

Richard J. Andreano

Richard J. Andreano

Ballard Spahr LLP

Agenda

Faculty

Richard J. Andreano

Richard J. Andreano

Ballard Spahr LLP

  • Partner at Ballard Spahr LLP
  • Practice leader, Mortgage Banking Group, Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA: America's Leading Lawyers for business, banking and finance: financial services regulation: consumer finance (compliance), national ranking, 2014 to 2017
  • Wrote MBA Compliance Essentials Loan Originator Compensation Resource Guide™, published by the Mortgage Bankers Association
  • Co-wrote, MBA Compliance Essentials TILA/RESPA Integrated Disclosure TRID Rule Resource Guide™, published by the Mortgage Bankers Association
  • Editor-in-chief, Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; author of chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-author of the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsels clients on residential mortgage regulatory matters, including ability to repay, TILA/RESPA integrated disclosure (TRID) rule, CFPB and other regulator supervision and examination, UDAAP and other Dodd-Frank matters
  • Frequent speaker and author on mortgage industry issues
  • Can be contacted at 202-661-2271 or [email protected]

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