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Illinois Attorney: Continuing Legal Education

TILA-RESPA Integrated Disclosures
(Online On-Demand Presentation)

This course takes an in-depth look at the new TILA-RESPA integrated mortgage disclosures. Effective October 3, 2015, the Loan Estimate and the Closing Disclosure will replace the Good Faith Estimate, HUD-1 Settlement Statement and Truth-in-Lending disclosure for most residential mortgage transactions . These changes will have a direct and meaningful impact on the real estate and lending industry and the attorneys who support both buyers and sellers of residential real estate.  Peter Citera, a long-time mortgage industry veteran and Director of Mortgage Education for Real Estate Institute, highlights the new requirements and implementation challenges that have many lenders calling this one of the biggest changes in the mortgage industry since the 1960s.

Topics include:

  • The Loan Estimate: what it looks like, what information is captured and how it differs from the Good Faith Estimate and early Truth-in-Lending disclosure
  • What data points trigger the need for disclosures and who is responsible for their accuracy
  • Changes to the limitations (called “tolerances”) on increases in certain fees and charges
  • A full examination of the Closing Disclosure with a focus on strict new timing requirements that may delay your closings
  • The changing role of the settlement agent brought about by the Closing Disclosure
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Credit:
2 Hour(s) General
Tuition: $48.00

Faculty:

Peter Citera is Real Estate Institute's Director of Mortgage Education. Mr. Citera joined the Real Estate Institute to lead the training of thousands of mortgage loan originators in Illinois and throughout the United States as required by the 2008 S.A.F.E. Act. To remain up to date with the fast paced changes in residential lending, he additionally maintains his direct involvement in loan origination. He holds residential loan originator licenses in Illinois, Wisconsin, Indiana and Florida. Mr. Citera is currently a member of the Illinois Association of Mortgage Professionals, National Association of Mortgage Brokers, and he has acted as a Team Leader for the Illinois Association of Mortgage Professionals Political Action Committee. Before joining the Real Estate Institute, Mr. Citera directed the day-to-day operations for a full-service mortgage brokerage with 4 branches and 100 loan officers. He has become a leading expert in residential mortgage finance and has taught continuing education classes to other bankers and brokers since 2005. Mr. Citera is a graduate of Miami University, Oxford, Ohio, where he earned his Bachelor of Arts in Public Administration. After graduation, he worked in Information Technology until he found his true calling in the mortgage banking field in 1999.

Notes:

The amount of CLE credits reflect the maximum amount of credit that can be earned. Only actual attendance or participation earns credit. MCLE Rule 795(e)(6).

Mandatory Regulatory Fee(s):

The regulatory agency to which we report your course completion(s) may require a credit reporting or other processing fee. Fees are often calculated per-course or per-credit-hour.

Students are required to pay any state-mandated fees in addition to our course tuition.

We do not add any other shipping, processing, or hidden fees.

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Real Estate Institute is approved by the MCLE Board. Accredited CLE Provider #REI0001.