Why New CFPB Closing Form is Driving Lenders 'Crazy'
Origination News published, Why New CFPB Closing Form is Driving Lenders ‘Crazy’ saying lenders are worried about compliance, and fearing the new integrated mortgage disclosure rules will make the closing process more difficult.
CFPB Integrated Mortgage Disclosure Rules: REALTORS® Speak Out
The National Association of REALTORS® (NAR) has begun to speak out about what the Consumer Financial Protection Bureau's (CFPB) rule on integrated mortgage disclosures will mean for their members' business. These articles provide needed insight to real estate professionals on how the August 1 change will affect them, their customers and residential transactions.
CFPB Finalizes Minor Changes to “Know Before You Owe” Mortgage Rules
The Consumer Financial Protection Bureau finalized minor changes to the Integrated Mortgage Disclosure Rule covering when consumers will received updated disclosures upon locking in an interest rate, and how consumers will receive information regarding certain construction loans.
CFPB Report Finds Nearly Half of Borrowers Do Not Shop for a Mortgage
Latest report from the Consumer Financial Protection Bureau (CFPB) finds that almost half of consumers do not shop around for a mortgage when purchasing a home. It also found that informed consumers are more likely to shop, especially if they are familiar with available mortgage rates.
Bank of America Releases Settlement Agent Communication
Wells Fargo Issues Fourth Quarter Settlement Agent Communication
Wells Fargo's latest settlement agent communication addresses many questions since their September issue, which stated they would control the generation and delivery o fthe borrower Closing Disclosure.
Wells Fargo Issues Settlement Agent Communication
Wells Fargo is planning to treat the new Closing Disclosure very differently than the HUD-1. Wells Fargo plans to prepare and deliver the disclosure to the borrower, but to leave the provision of the seller disclosure to the settlement agent.
Stewart Blog - CFPB Articles
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