CUNA, trades praise TILA-RESPA bill’s ‘hold harmless’ period

first_imgA bill that would provide a temporary delay in enforcement and a liability safe harbor period for a new mortgage disclosure rule has the support of CUNA and a number of other financial and housing trade organizations.CUNA and its coalition partners sent a letter to the bill’s chief sponsors, Reps. Steve Pearce (R-N.M.) and Brad Sherman (D-Calif.), thanking them for their leadership in addressing complications associated with the implementation of the Consumer Financial Protection Bureau’s (CPFB) Truth in Lending Act-Real Estate Settlement Procedures Act (TILA-RESPA) integrated disclosures rule.The Pearce-Sherman bill would provide temporary relief in enforcement actions and a liability safe harbor period until Jan. 1, 2016, as long as a “good faith” effort is made to comply with the one-thousand-plus pages of the rule.CUNA and the other organizations support the CFPB’s goal that the new disclosures help consumers better understand mortgage terms. However, stakeholders are unable to test the processes used to develop the new disclosure in real-life transactions before the rule’s Aug. 1 implementation date. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Mariners Decimate Tigers

first_img Town report wins award – October 11, 2014 Fitness trainer is now cancer-exercise expert – October 12, 2014 Schoodic Grange hosting sale – October 30, 2014 Fenceviewer Staff This is placeholder textThis is placeholder text Latest posts by Fenceviewer Staff (see all) Bio SORRENTO — On Tuesday at the par-36 Blink Bonnie Golf Course, the Deer Isle-Stonington Mariners capped an 8-1 season with a 182-276 win over the Sumner Tigers.Sam Grindle and Connor Morey of the Mariners tied for medalist honors with rounds of 38. They were followed vby Nick Eaton 49, Alec Eaton 55, Drew Siebert 57, Nick Dunham 59 and Andy Turner 80.For the Tigers, it was Braden Wentworth 60, Vincent Ossanna 67, Matt Lamoureaux 68 and Casey Slater 81.For more sports news, pick up a copy of The Ellsworth American. Latest Postslast_img read more