News & Info > NAT TV > CFPB TILA/RESPA Integrated Mortgage Disclosures

In 2010 in response to the financial crisis that precipitated the Great Recession, Congress passed the Dodd-Frank Act, which created stricter rules for lenders and increased transparency for consumers. The new law included the creation of the Consumer Financial Protection Bureau (CFPB) to bring all consumer protection laws under one umbrella. One of the mandates for the CFPB was to combine the complicated closing disclosures required under the Truth in Lending Act and the Real Estate Settlement Procedures Act into a more understandable, transparent and integrated form. The result is the new Loan Estimate and Closing Disclosure.

Click on a video link below to learn more about the new forms.