What you need to know about changes to the mortgage closing process
05/04/2015 | Author: Editorial Staff
New rules from the Consumer Financial Protection Bureau are going into effect October 3. These changes will have a big impact your clients’ closing documents and procedures.
To fully understand what’s changing, you can read 1,988 pages of federal regulations or take advantage of the following resources from TAR:
- Read this article in the May issue of Texas REALTOR® magazine. It pares down the regulations and explains what you need to know to serve your clients.
- Watch the latest Texas REALTOR® Magazine Minute. This quick video focuses on the major changes and give you a big-picture view.
- Attend TAR's webinar about the new lending laws on May 28 at 2 p.m. CDT. Attorney Dawn Moore, president of the Texas Land Title Association, will go in depth about the changes and what they mean for lenders, REALTORS®, and clients.
The Texas Association of REALTORS® will continue to provide updates between now and October 3 to ensure that your closings go smoothly.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.