doddfrank: Help us make settlements easier; send comments today!
- 11/06/12 12:00 AM
We're about to see some big changes regarding the delivery of HUD-1 Settlement Statements and Truth-in-Lending Disclosures, which could result in added cost and closing delays for homebuyers, if the Consumer Financial Protection Bureau's new rules go into effect as proposed. The CFPB rule would merge the HUD-1 and TILA forms, which together total five pages, into a single five-page document known as a Closing Disclosure form. One of the options under the proposed rule would require lenders to prepare and deliver the Closing Disclosure to consumers instead of settlement companies. Allowing this rule to go into effect will likely wind … (0 comments)
We're about to see some big changes regarding the delivery of HUD-1 Settlement Statements and Truth-in-Lending Disclosures, which could result in added cost and closing delays for homebuyers, if the Consumer Financial Protection Bureau's new rules go into effect as proposed.
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