When the Consumer Financial Protection Bureau (CFPB) released its 1,099-page proposed rule on July 9 regarding the integration of the RESPA and Truth in Lending Act disclosure forms, it was received with equal parts skepticism and angst by the industry. The sheer length of the proposal has been a lot to digest, not to mention its complexity.

RESPA News and Dodd Frank Update are co-hosting a Webinar to shed light on this proposal and provide instruction on the most impactful pieces affecting those involved in mortgage transactions. Diving into the CFPB mortgage disclosures: A step-by-step review of the new forms airs Thursday, Sept. 13, from 2 – 3:30 p.m. ET.

All settlement services, mortgage and real estate professionals are affected by this massive reform and are invited to join RESPA attorneys Phil Schulman and Holly Spencer Bunting, both partners in the Washington, D.C., office of K&L Gates, to learn the most important areas affecting the transaction process, along with the crucial parts on which to submit comment to the bureau. Schulman and Bunting will provide:

• The top 10 takeaways of the rule proposal;
• Changes from the 2010 RESPA reform and the effects of this new reform on the industry;
• A breakdown of the proposed regulations and training on the various sections;
• An explanation of finance charges, the proposed expanded definition and the impact on consumers;
• The responsibilities of the settlement agent;
• Instruction on the new forms;
• A list of specifics for which the CFPB is seeking comment; and
• A Q&A session for your specific questions.

The CFPB is giving industry professionals a chance to make comments that would alter this proposal to ensure the final rule is right for all parties involved in the mortgage transaction.

“Everyone who has a stake in residential real estate transactions will need to have an in-depth understanding of the proposal in order to comment on the areas impacting them,” said Syndie Eardly, editorial director at October Research LLC. “The CFPB is asking for feedback on very crucial elements in the transaction process. Industry members should focus on this reform now so that when the time comes to implement the final rule, there will be no surprises.”

Webinar participants will receive step-by-step instructional training and will come out knowing the proposal and the new forms, while having great insight into the impactful areas. Participants will also receive related feature articles from RESPA News and other October Research LLC publications covering the CFPB’s mortgage transaction reform.