The Consumer Finance Protection Bureau released the final rule for integrated mortgage disclosures.

The disclosures are required under the Truth in Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA). A new Loan Estimate will replace the current Good Faith Estimate and early Truth-in-Lending (TIL) disclosure, while a new Closing Disclosure will replace the HUD-1 Settlement Statement and the final TIL disclosure.

This change becomes effective August 1, 2015.