|Consumer Financial Protection Bureau To Release Combined Form|
|Monday, 01 August 2011 08:35|
The third draft of the Consumer Financial Protection Bureau's (CFPB) combined form for Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) disclosures will be released next week, the CFPB said last Thursday.
The combined form is required under the Dodd-Frank Act and is intended to reduce mortgage lender regulatory burden and make mortgage disclosures less confusing to consumers. The CFPB has released and collected comment on two separate drafts of a simplified mortgage disclosure form. The agency said it has received more than 18,000 comments since the first draft of the combined form was released in May. Read More…