Making Comments on CFPB Proposed New Forms

11 Jul

Did you know that you may comment on the new mortgage forms proposed by the CFPB (Consumer Financial Protection Bureau)?

The link below allows you to search for the proposed forms and make a comment on their improvement.  Comments will be accepted through November 6.

http://www.regulations.gov/#!home

Considering that getting a mortgage is probably the biggest financial decision most people will make, the CFPB aims to make disclosure forms more readily understood by the general public.

This means that mortgage professionals will have to learn to use and explain the new forms.  There is sure to be a learning process involved, but the end result will provide greater clarity in the costs and terms of a loan.

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