The Texas Department of Insurance (TDI) has posted notice of adoption of the proposed Texas Disclosure Rule on its website. Technically, the effective date of the new Texas Disclosure rule will be Aug. 1, 2015. However, the rule only requires the use of the form when the CFPB requires its new Closing Disclosure which will not be until October.
TDI held hearings on the new Texas Disclosure rule in May. The new rule and form were designed to be used in conjunction with the new federal Closing Disclosure that is now recommended to go into effect in October of this year. For more background, click here.
Check here later this week to view the On Demand version of TLTA’s webinar “The Texas Disclosure - What Goes On It & How To Explain It.”