CFPB Finalizes “Know Before You Owe” Mortgage Forms
The Consumer Financial Protection Bureau (CFPB) is issuing its final rule today (November 20, 2014) requiring the use of new mortgage disclosure forms that will replace the existing federal disclosures and are intended to make it easier for consumers to understand their loan options, select loan terms that are most appropriate for them and avoid surprises at the closing table. Detailed information on the new rule and copies of the new forms are available on the CFPB website.
