In July of 2012 the Consumer Financial Protection Bureau announced their proposed revisions to the GFE, TIL and HUD-1, in order to redesign settlement documents to be easier for consumers to understand. After nearly 18 months of soliciting industry feedback and deliberating a wide range of opinions, the CFPB has published the TILA/RESPA Integrated Closing Disclosure Rule.
Below are some interesting highlights of the Integrated Closing Disclosure Rule: The CFPB acknowledges that consumers can save money if they shop around for their own service providers for title and settlement services. The Loan Estimate Form replaces the early … (2 comments)
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