Illinois legislature passes SB16 to address effect of In re Crane decision

In response to the now infamous In re Crane decision, the Illinois legislature yesterday passed SB 16. The relevant language appears at the end of the enrolled bill at the following link: SB0016 The bill will become law effective June 1, 2013,  if signed by Governor...

The Consumer Financial Protection Bureau (CFPB)

The Consumer Financial Protection Bureau (CFPB) released a 1,099 page proposal last week for new mortgage disclosures which  integrates forms required under the Truth in Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA) and revises the HUD-1...