Thursday, August 25, 2011

New RESPA/TILA Disclosure to Include Consumer Input

The Consumer Financial Protection Bureau drafted a new combined RESPA/TILA Disclosure form at the end of June. This will combine the Truth in Lending and Good Faith Estimate. The Bureau seeks to create forms that serve consumers and also are less confusing for lenders and brokers as they explain the forms to potential mortgage consumers. It’s good to hear that the new forms will include consumer input!

Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.

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