The Consumer Financial Protection Bureau (CFPB) released a 1,099 page proposal last week for new mortgage disclosures which  integrates forms required under the Truth in Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA) and revises the HUD-1 Settlement Statement.  The proposed rule is still in the comment phase until November.

 The American Land Title Association (ALTA) has put together a page with updates and information on what ALTA and its RESPA Task Force is doing to ensure the new forms benefit consumers and the title industry – with a lot of links and examples.  http://www.alta.org/cfpb/ 

 The following link will take you to ALTA’s proposed revision of the HUD-1 Settlement Statement – renamed Settlement Disclosure Form:  http://www.alta.org/cfpb/docs/12-04-16_ALTA_CommentonFinal_CFPBDraftSettlementDisclosureForm.pdf