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Quote from the CFPB’s February 2012 TILA/RESPA Integration Report:

The CFPB is planning to combine the disclosures that consumers receive shortly after application (the early TIL and the GFE) and the disclosures that consumers receive at or before closing (the final TIL and the HUD-1 settlement statement). The proposals under consideration by the CFPB would apply only to closed-end credit transactions (i.e., home equity lines would not be covered) and would not apply to reverse mortgages.

 

Check out this link to the Consumer Financial Protection Bureau’s recent blog about listening to a Small Business Review Panel before finalizing its new RESPA/TILA forms.

http://www.consumerfinance.gov/blog/sbrefa-small-providers-and-mortgage-disclosure/

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They say they want to hear from Consumers, too!

(that’s what they say!)

Just comment on the blog or “shoot” them an email to TILA-RESPA@cfpb.gov

(interesting choice of words :o )

 

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