This document outlines the key topics covered in Module 1 on federal mortgage-related laws, including: 1) The TILA-RESPA Integrated Disclosure Rule (TRID) and the types of loans that use integrated versus existing disclosures. 2) Requirements for providing the Loan Estimate, including timing, tolerances, revised estimates, and expiration. 3) Requirements for providing the Closing Disclosure, including timing, waiting periods, revisions, and record keeping. 4) Exceptions for providing the Your Home Loan Toolkit special information booklet for certain loan types like HELOCs and reverse mortgages.

1. Module 1: Federal Mortgage-Related Laws –
Required Topics

2. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.1 TILA-RESPA Integrated Disclosure Rule (TRID)?
 Transactions with TILA-RESPA Integrated Disclosures – Generally
Professional Organizations
 Summary of Applicable Disclosure Requirements
 Use TILA-RESPA Integrated Disclosures
 Most closed-end mortgage loans, including
 Construction-only loans
 Loans secured by vacant land or by 25 or more acres
 Continue to use existing TILA and RESPA disclosures (as applicable)
 HELOCs (subject to disclosure requirements under 12 CFR 1026.40)
 Reverse mortgages (An open-end reverse mortgage receives open-end disclosures, not a GFE or
HUD-1.)
 Chattel-secured mortgages (i.e., mortgages secured by a mobile home or by a dwelling that is not
attached to real property, such as land) (subject to existing TIL disclosures, and not RESPA)

3. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.2 Loan Estimate – 12 CFR 1026.19(e)
 Application
 Timing – Loan Estimate – early disclosures
 Waiving the Waiting Period
 Restricted Activities Prior To Receipt of Loan Estimate
 Limitation on Imposing Fees
 Use of Form H-26 for Estimates of Costs and Terms
 Limitation on Requiring Additional Information Prior to Providing a Loan Estimate
 Borrower’s Intention to Proceed

4. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.2 Loan Estimate – 12 CFR 1026.19(e) (Continued)
 Good Faith Requirement
 Tolerances
 Charges Subject to Zero Tolerance
 Charges Subject to a 10% Cumulative Tolerance
 Charges without Tolerance Limits

5. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.2 Loan Estimate – 12 CFR 1026.19(e) (Continued)
 Revised Loan Estimate
 Changed Circumstance Affecting Settlement ChargesCharges Subject to Zero
Tolerance
 Changed Circumstance Affecting Eligibility
 Revisions Requested By the Borrower
 Rate Locks after Initial Loan Estimate
 Expiration of Loan Estimate
 Construction Loans
 Timing – Revised Loan Estimates

6. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.3 Closing Disclosure – 12 CFR 1026.19(F)
 General Requirements
 Timing and Delivery – Closing Disclosure
 Waiting Period
 Waiving the Waiting Period
 Closing Disclosures Provided by Settlement Agent
 Closing Disclosures Involving Multiple Borrowers

7. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.3 Closing Disclosure – 12 CFR 1026.19(F) (Continued)
 Revising or Correcting the Closing Disclosure
 Changes That Occur Before Consummation Requiring New Waiting Period
 Changes That Occur Before Consummation but Do NOT Require New 3 Waiting
Period
 Changes That Occur After Consummation
 Borrower’s Rights Regarding Revised Closing Disclosures
 Refunds Related to Good Faith Analysis
 TRID Rule Record Retention Requirements
 What Happens if the Lender Sells or Transfers the Loan?

8. Module 1: Federal Mortgage-Related Laws –
Required Topics
1.4 Special Information Booklet – 12 CFR 1026.19(g)
 Exceptions to the Your Home Loan Toolkit Booklet
 If the borrower is applying for a HELOC subject to 12 CFR 1026.40, the lender (or
mortgage broker) can provide a copy of the brochure entitled “What You Should
Know About Home Equity Lines of Credit” instead of the Your Home Loan Toolkit. [12
CFR 1026.19(g)(1)(ii)].
 The lender need not provide the Your Home Loan Toolkit if the borrower is applying
for a real property-secured borrower credit transaction that does not have the
purpose of purchasing a one-to-four family residential property, such as a
refinancing, a closed-end loan secured by a subordinate lien, or a reverse mortgage.
[12 CFR 1026.19(g)(1)( iii)].