Joint Trades Association Letter to the CFPB on Changes to Mortgage Disclosures

To Whom It May Concern:

The undersigned organizations appreciate the opportunity to respond to the Consumer Financial Protection Bureau's (CFPB or Bureau) Request for Information (RFI) seeking input on potential changes to the TILA-RESPA Integrated Disclosure requirements (TRID), rescission rights under the Truth in Lending Act (TILA), and reverse mortgage disclosures. We support the Bureau's effort to identify targeted reforms that reduce unnecessary burdens in today's mortgage market.

Our associations represent a broad range of mortgage lenders and financial institutions who collectively agree that several TRID provisions impose substantial operational burden without producing commensurate consumer benefit. The Bureau can provide meaningful relief through a limited set of practical reforms.

We respectfully submit the following consensus recommendations.

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