New Truth In Lending and RESPA Disclosure Rule Will Impact Closings (GMM) 6/4/15

Thursday, June 4, 2015 (10:00 AM to 12:00 PM)
0.0 CE Hours

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The TILA RESPA Integrated Disclosure Rule will go into effect on August 1, 2015. Changes to anticipate as a result will include:

1. There will no longer be Good Faith Estimates (GFEs) or Truth in Lending disclosures. These forms will be combined into a single Loan Estimate or LE.

2. The HUD-1 Settlement Statement will be replaced by the Closing Disclosure or CD which, similar to the HUD 1, will serve to memorialize the details of the settlement. However, the CD must be delivered to the consumer three days prior to closing and if there are changes during that the three day period, the closing could be delayed.

This course does not offer CE or SPLE credit for license renewal.

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CAAR Classroom (Classroom)
550 Hillsdale Drive
Charlottesville, VA 22901

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Lafayette, Michael
MICHAEL P. LAFAYETTE is a partner in the law firm of Lafayette, Ayers & Whitlock, PLC in Henrico County. Michael is 1989 graduate of the University of Richmond School of Law. Michael concentrates his law practice in real estate, business and administrative law. Michael has extensive experience in representing Realtors® and Realtor® Associations. In particular, Michael is legal counsel to the Richmond Association of Realtors/Central Virginia Regional MLS, the Southside Association of Realtors, the Lynchburg Association of Realtors and the New River Valley Association of Realtors, has been a speaker at over 100 seminars covering various real estate topics, and has written curriculum for numerous real estate and legal continuing education courses.

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