Integrated Mortgage Disclosure Rule

Consumer Financial Protection BureauThe Consumer Financial Protection Bureau (CFPB) has issued it’s final rule to simplify and improve mortgage disclosure forms. It details what loans are not affected, samples for compliance and delivery definitions to assist you. This rule takes effect  August 2015. Here is a summary of the key points.

Effective August 2015

Implemented By: Consumer Financial Protection Burea (CFPB)

What It Is: A Rule to Simplify and Improve Mortgage Disclosure Forms

Who It Affects: Most Consumer Mortgages

(Exceptions: Reverse mortgages, home equity line of credit, mobile home loans, creditors making five or fewer loans per year, commercial purpose loan.)

For the details, click the link below:

Integrated Mortgage Disclosure 2

 

 

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