Bureau of Consumer Financial Protection Manuals

TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure Forms

This guide from the Bureau of Consumer Financial Protection explains the TILA-RESPA Integrated Disclosure rule and walks through the Loan Estimate and Closing Disclosure forms field by field. It opens with an introduction describing how Federal law previously required two separate disclosure forms under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA), and how the Dodd-Frank Act directed the Bureau to integrate the mortgage loan disclosures under TILA and RESPA sections 4 and 5. It then notes the December 31, 2013 final rule and the amendments and technical corrections issued on January 20, 2015, July 21, 2015, December 24, 2015, February 10, 2016 and July 7, 2017.

The body of the guide is organized around the forms. Section 2 covers the Loan Estimate, including general requirements, page 1 (General Information, Loan Terms, Projected Payments, Costs at Closing), page 2 (Loan Costs, Other Costs, Calculating Cash to Close, the Alternative Calculating Cash to Close table, the Adjustable Payment table and the Adjustable Interest Rate table) and page 3 (Contact Information, Comparisons, Other Considerations, Servicing and Confirm Receipt). Section 3 covers the Closing Disclosure across its five pages, including Loan Costs, Other Costs, Calculating Cash to Close, Summaries of Transactions, Loan Disclosures, Partial Payments, Escrow Account and Other Disclosures. A version log records the May 2018 version 2.1 update, which incorporates the April 26, 2018 amendments to the TILA-RESPA Final Rule.

Covers: Version Log · Introduction · Loan Estimate: General Requirements · Loan Estimate (Page 1) · Loan Estimate (Page 2) · Loan Estimate (Page 3)