CFPB Looks to Reduce 'Pain Points' in Mortgage Closings

January 6, 2014
Reverse Mortgage Daily 
consumer financial protection bureau news
Taking its Know Before You Owe campaign moves into the next stage, the Consumer Financial Protection Bureau is tackling the mortgage closing process. The regulator has issued a request for comments centered around such issues as how long it takes to close on a home loan and common complaints. "The CFPB seeks to encourage the development of a more streamlined, efficient, and educational closing process as the mortgage industry increases its usage of technology, electronic signatures, and paperless processes," according to the request for comments. The agency will accept submissions until Feb. 7, 2014.









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