Here’s a timeline that is full of we developed the mortgage Estimate and Closing Disclosure kinds, element of our recognize Before your debt: Mortgages task. It’s an appearance right straight back at our work to create home loan disclosures easier and much more effective, using the input associated with the individuals who can use them actually.
You’ll be able to go back to the key web web web page to look at a timeline that is interactive.
The Dodd-Frank Wall Street Reform and Consumer Protection Act is finalized into legislation.
The brand new legislation required the CFPB to mix the facts in Lending and real-estate Settlement treatments Act disclosures.
December 6, 2010
The Treasury Department hosts a home loan disclosure symposium.
The big event brought together customer advocates, industry, marketers, and much more to talk about CFPB execution associated with mixed disclosures.
February 21, 2011
Beginning with the appropriate needs together with customer at heart, we started prototype that is sketching for evaluating.
With this procedure, the group talked about initial problems and tips about home loan disclosures. This session set the context when it comes to disclosures and had been a kick off point for their development. The group proceeded to build up these problems and a few ideas over significantly more than a during the development process year.
Understand Before You Owe opens on line.
We posted the initial two model loan estimates. We asked customers and industry to look at them and inform us exactly exactly exactly what worked and exactly what didn’t. Read More