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 What we are hearing about new disclosures
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Regulatory Updates
Monday, February 13, 2012
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It looks like the Consumer Financial Protection Bureau (CFPB) is continuing full steam ahead creating new mortgage disclosures combining the disclosures currently required under RESPA and the Truth in Lending Act (TILA). Last month the bureau announced it was testing new closing disclosures in Philadelphia, Pa. (see story on page 11). After that, there will be one more round of testing on one last iteration of the forms before the bureau gets to work writing the rules that will govern the use of those forms.
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