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08/03/2015

Tell the Senate We Need Their Help

With the CFPB's TRID rules set to go into effect Oct. 3, we need your help to encourage Congress to pass bipartisan legislation that mandates the bureau observe a hold-harmless period for enforcement of the new TILA-RESPA Disclosure (TRID) rule until January 1, 2016.

Click here to take action today and ask your senators to cosponsor S. 1711 today. 

On Aug. 29, the House Financial Services Committee voted 45-13 to advance H.R. 3192. The bill, sponsored by Reps. French Hill (R-Ark.) and Brad Sherman (D-Calif.), would provide a temporary legal safe harbor  for lenders and title professionals who make a good-faith effort to comply with the TRID through February 1, 2016.

H.R. 3192 moves to the full House of Representatives where ALTA and its coalition partners are pushing for it to be voted on under suspension of the rules (a mechanism for non controversial bills) in early Sept. This will require getting more co-sponsors on the bill especially from the Democratic side.  

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