The Trusted Adviser

June 2015 | Volume 8 - Number 5

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Wells Fargo Publishes its Update on TILA-RESPA

FAQs Answered in Latest Settlement Agent Newsletter

UPDATE: On June 24, 2015, the CFPB announced a proposed amendment to move the rule’s effective date to October 3, 2015. Read the CFPB announcement


Christine Sparks photo

The new TILA-RESPA Integrated Disclosure ("TRID" or "Closing Disclosure") takes effect for residential loan applications made on or after August 1, 2015. ATG has been busy getting ready for the new Closing Disclosure and so have the lenders. Wells Fargo has been providing quarterly updates on how Wells Fargo will be handling the Closing Disclosure and new procedures.

The newest communication from Wells Fargo provides answers to frequently asked questions they receive about the Closing Disclosure form. Among questions answered are whether a settlement statement can be provided to the borrower in addition to the Closing Disclosure, what to do if closing documents are signed prior to the consummation, and information for settlement agents regarding the use of eLynx to receive Wells Fargo loan documents.

See Wells Fargo June 2015 - TILA-RESPA Integrated Disclosure FAQs to read the full Wells Fargo newsletter. You will also find links to the other Wells Fargo Settlement Agent Communications on this topic.

ATG has many member-training opportunities available relating to the new Closing Disclosure. For more information see ATG Provides Agent Training on Integrating TILA-RESPA Disclosures.

As always, we appreciate your business and welcome your questions.

Christine Sparks
ATG Vice President and Managing Attorney, Claims and Audit

ATTN ATG Member Agents: You can post your questions and comments on the ATG Member Forum.

ATG MEMBERS | Underwriters' Bulletin

Underwriters' Bulletin

Insuring the Interest of an Installment Contract Purchaser — ATG permits member agents to insure the interest of an installment contract buyer using a Contract Purchaser’s Policy.

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ATTORNEYS | Practice Notes

Don't Miss the June 30 MCLE Deadline

Get your required credit hours free from ATG Legal Education. Choose from a wide selection of OnDemand programs as well as live OnLine and OnSite seminars:

Special Needs Trusts: The Legal and Practical Aspects | IL, WI (1.50 MCLE/CLE) - SESSION FULL
June 10, webcast

Preparing the New Closing Disclosure in ATG REsource® | IL, IN, WI (3.00 MCLE/CLE) - member only
June 16, Green Bay, Wisconsin

REsource Closing Disclosure Form Training, Part 1 - presented by RamQuest | IL, WI (2.00 MCLE/CLE) - member only
June 24, webcast

Take FREE OnDemand CLE Programs 24/7

We've added several new OnDemand programs to our library that you can take at your convenience, including the following:

See our Program Catalog for a full listing. You must login on our website to register.

IN THE NEWS | ATG President Appointed Chief Justice

Peter Birnbaum photoATG President Peter J. Birnbaum Appointed Chief Justice, Illinois Court of Claims Governor Bruce Rauner has appointed Peter J. Birnbaum, president and CEO, Attorneys’ Title Guaranty Fund, Inc., as chief justice of the Illinois Court of Claims. Birnbaum has served as a judge on the Court since 2004.

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WHAT'S NEW | Trust, CLE, Process, and Auction Services

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ATG Legal Education logoEarn Your MCLE Anywhere You Have Internet Access

Choose from a wide selection of programs, all available 24/7. See full Program Catalog - login required for access to registration links.

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[Originally posted 6-8-15; Last update: 6-25-15]