In the December 24, 2015 issue of the Federal Register (80 FR 80228, click here) the CFPB published a final rule that makes technical corrections to Regulation Z and its Official Interpretations (12 CFR part 1026). Specifically, this final rule makes the following corrections to reinsert existing regulatory text that was inadvertently deleted from Regulation Z and its commentary: • Amends §1026.22(a)(5) to restore subparagraphs (i) and (ii). • Amends the commentary to §1026.17 as follows: -commentary paragraph 17(c)(1)-2 to restore subparagraphs i, ii, and iii; -commentary paragraph 17(c)(1)-4 to restore subparagraphs i.A, and i.B; -commentary paragraph 17(c)(1)-10 to restore introductory text and subparagraphs iii, iv, and vi; -commentary paragraph 17(c)(1)-11 to restore subparagraphs i, ii, iii, and iv; -commentary paragraph 17(c)(1)-12 to restore subparagraphs i, ii, and iii; -commentary paragraph 17(c)(4)-1 to restore subparagraphs i and ii; and -commentary paragraph 17(g)-1 to restore subparagraphs i and ii. • Amends the commentary to §1026.18 at paragraph 18(g)-4 to restore text to subparagraph i. • Amends the commentary to appendix D to add paragraph 7 that was inadvertently omitted from the commentary to appendix D. (Note: This paragraph explains how to disclose construction loans (interim and one time close constructions loans) under the TRID Rule.) These corrections republish certain provisions of Regulation Z and the Official Interpretations that were inadvertently removed from or not incorporated into the Code of Federal Regulations by the “Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)” final rule (TILA-RESPA Final Rule). These technical corrections are published on pages 80229 through 80232 of the above cited Federal Register along with the related text that was not deleted or omitted. To view or print them, please click on the above Federal Register hyperlink and scroll to the applicable pages. These corrections are effective on December 24, 2015.

Complete Memorandum