I recently had a neighbor with three young daughters move to Wisconsin from California because a) the husband’s family lives in Wisconsin, but also b) so they could purchase a home and stop renting. Purchasing a home in which they could raise a family has been part of their dream, but is it still part of the American Dream?
The Bureau is requesting public comment on its plans to conduct an assessment of the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA) Integrated Disclosure Rule and certain related amendments (TRID Rule). As part of its assessment, the Bureau intends to address, among other relevant factors, the TRID Rule’s effectiveness in meeting the purposes and objectives of Title X of the Dodd-Frank Act and the specific goals of the TRID Rule.
The public is invited to comment on the feasibility and effectiveness of the assessment plan, recommendations to improve the assessment plan, and recommendations for modifying, expanding, or eliminating the TRID Rule, among other questions. Comments are due January 21, 2020 (60 days after it’s published in the Federal Register).
You can access the Request for Information for the TRID Rule Assessment here: https://www.consumerfinance.gov/policy-compliance/notice-opportunities-comment/open-notices/request-for-information-regarding-tila-respa-integrated-disclosures-rule-assessment/.
Consumer Financial Protection Bureau
Redfin, November 19, 2019
Mortgage News Daily, November 20, 2019
While some data suggests that housing density is starting to prevail in certain cities, the vast majority of Americans still want a single-family home with a yard, even if it means sacrificing proximity to work. READ MORE
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