Will Form 8854 Disclosure 2023-2024

Atilla RESPA integrated disclosures coming August 1st, 2015. The regulations that impact mortgage lending continue to be revised on a regular basis, and this year is no exception. In fact, some of the biggest changes in recent history will be effective for mortgage applications taken on or after August 1st, 2015. The CFPB has published revisions to Atilla and RESPA that are being affectionately referred to as "tread." Atilla RESPA integrated disclosures. There are lots of changes, but the biggest one is that the GFE, HUD 1, and T il forms, with just a few exceptions, will no longer be used. Instead, the new loan estimate or le will replace the GFE and initial T il, while the new closing disclosure or CD will replace the HUD one and final TI o. Let's take a look at a sample le and CD from here. Page one begins with general loan information and then includes sections for loan terms, projected payments, and cost at closing. It's important to note that the borrower will now be provided the estimated cash-to-close amount, which is not included on the current GFE. Page 2 is a breakdown of loan costs, other costs, and a summary entitled "calculating cash to close." What's different on this page is how the costs are broken down. The 800-900 etc. series of fees no longer exist. Loan costs include origination charges, services you cannot shop for, services you can shop for, other costs include taxes, prepaids, initial escrow payment, and other. Calculating cash-to-close includes a summary of all the charges and credits. Another important difference to point out on this page is that services you cannot shop for will now be subject to zero-tolerance. In the past, these charges fell into the 10% tolerance category. On the third page, you'll find the...