2/23/2015 - By Abbey Lelina
The 20-year wait is almost over. The final Integrated Mortgage Disclosure Rule under the Dodd Frank Act will be effective August 1, 2015. This Rule replaces the existing disclosure forms and procedures with a different approach to residential mortgage lending.
To help with this transition process, we invited attorney Leonard Bernstein to speak at our Dodd Frank Act Integrated Mortgage Disclosure Meeting in Tampa, Florida.
During his presentation, he discussed procedural and logistical changes along with an in-depth overview of the Loan Estimate and Closing Disclosure forms. Through this event, we were able to help educate over 80 people.
Len is the Managing Partner of the Philadelphia office of Reed Smith, LLP, and chairs the firm's Financial Regulatory Group. He is also a regular speaker on complicated regulatory requirements for the financial services industry.