CFPB Says New Mortgage Forms Reinforce Borrower Protection

Law360, New York (November 20, 2013, 12:00 AM EST) -- The Consumer Financial Protection Bureau on Wednesday released streamlined mortgage disclosure forms aimed at making it easier for home buyers to better understand fees and avoid “bait and switch” tactics, while dialing back parts of an earlier proposal that lenders deemed infeasible.

The CFPB said it combined a host of forms that can overwhelm home buyers into two simple forms — one provided three days after a home buyer applies for a mortgage and the other three days before closing — that are easier to read...
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