U.S. House of Reps Approves New Rules for Mortgage Loan Originators


The House has passed a Mortgage Bankers Association-supported bill that amends the TILA/RESPA Integrated Disclosure rule, and supports flexibility for mortgage loan originators.

H.R. 3978, the TRID Improvement Act (, amends the Real Estate Settlement Procedures of 1974 to modify disclosure requirements applicable to mortgage loan transactions. Specifically, the disclosed charges for any title insurance premium shall be equal to the amount charged for each individual title insurance policy, subject to any discounts as required by either state regulation or the title company rate filings.

The bill also accommodates H.R. 2948 (, which amends the S.A.F.E. Mortgage Licensing Act of 2008 to allow loan originators that meet specified requirements to continue to originate loans temporarily after moving:

from one state to another, or
from a depository institution to a non-depository institution.

In both instances, the temporary time period is 120 days from the date of application.

Note, in order for the actions taken by the House to become law, the measures must also be passed by the Senate, and signed by the President of the United States.

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