Alert March 06, 2012

CFPB Conducts Final Round of Mortgage Disclosure Testing

The CFPB issued revised prototypes of the single mortgage disclosure to replace the HUD-1 Settlement Statement and Truth-in-Lending Good Faith Estimate, as part of its “Know Before You Owe” Campaign, which commenced last summer.  Following this final comment period, the agency will begin drafting the proposed rules for this disclosure.  Click here for the press release.