revised loan estimate after rate lock: The Revisions Have Begun
- 01/22/15 02:56 AM
You may have missed the announcement as I am not sure there was one. I am subscribed to CFPB announcements and emails and did not receive any notice of this rule change. Two days ago (Tuesday, 01.20.2015) the Consumer Finance Protection Bureau ("CFPB") finalized two minor changes to the TILA-RESPA Integrated Disclosure forms. The official announcement on the CFPB website is HERE. The changes were made in response to pressure from the mortgage industry. The first rule change addresses the timing of the required, revised Loan Estimate at the time of a rate lock on an adjustable rate loan. The second … (9 comments)
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Randy Kirsch
(NMLS# 1012303) Your Dedicated Mortgage Consultant
You may have missed the announcement as I am not sure there was one. I am subscribed to CFPB announcements and emails and did not receive any notice of this rule change. Two days ago (Tuesday, 01.20.2015) the Consumer Finance Protection Bureau ("CFPB") finalized two minor changes to the TILA-RESPA Integrated Disclosure forms. The official announcement on the CFPB website is HERE.
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