CFPB Shakes Up The Consumer Mortgage Market

Law360, New York (December 20, 2013, 5:34 PM EST) -- On Nov. 20, 2013, the Consumer Financial Protection Bureau issued a final rule[1] that includes significant changes to both the form, content and timing of disclosures that lenders must provide to consumers for most closed-end consumer mortgage loans secured by real property.[2] This new final rule is the most recent, albeit perhaps the most wide-ranging, in a series of rules affecting the mortgage market.[3]

Recognizing the significant impact that this final rule will have on the consumer mortgage market, the effective date is not until Aug....
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