The Consumer Financial Protection Bureau this week provided guidance to small entities on complying with new rules regarding real estate lending.
In its Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule, the CFPB highlights issues lenders might encounter when implementing the rule.
“It may also be helpful to settlement service providers, software providers, secondary market participants, and other firms that serve as business partners to creditors,” the CFPB writes in its introduction of the guide, now available online.
The Bureau also made additional resources available regarding the rule, which can also be accessed via the CFPB’s website.
Forthcoming guidance will also help small entities comply with new disclosure forms, the CFPB says.
Written by Elizabeth Ecker