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CFPB Extends Comment Period on Mortgage Disclosures

Posted on 8/8/2011

The Consumer Financial Protection Bureau extended the comment period -- to Wednesday, Aug. 10 -- for the third round of feedback on its "Know Before You Owe" mortgage disclosure forms. The draft forms, which reflect comments from the first two rounds, offer two alternatives for merging Truth in Lending Act and Real Estate Settlement Procedures Act disclosures.

The two prototypes are expected to undergo further evaluation and revision through September, when a single draft disclosure form will be selected and refined. The CFPB is not slated to issue a final version of the form until July 2012. To read more and to comment visit: http://www.consumerfinance.gov/know-before-you-owe-weigh-in-now/



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