April 18, 2014

Mortgage closing topic of CFPB forum Wednesday

April 21, 2014 – CFPB will hold a forum on the mortgage closing process this week – at 2:30 p.m. Eastern April 23 in Washington, D.C.

The event will feature remarks from CFPB Director Richard Cordray. Attendees will also hear from consumer groups, industry representatives and members of the public. The event will be live-streamed on CFPB's blog.

The event is open to the public, but attendees are required to RSVP. The event will be held at CFPB's headquarters. NAFCU staff will attend.

In February, NAFCU, based on comments from its members, urged CFPB to further consolidate and simplify the mortgage disclosure documents required at loan closing to make the information easier for consumers and lenders to understand.

Last week, CFPB released a guide to completing the new Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure forms.