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What we’re hearing: Reactions to the CFPB’s proposed rules
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Regulatory Updates
Thursday, July 26, 2012
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The Consumer Financial Protection Bureau (CFPB) came out with its highly anticipated, 1,099-page proposed rule regarding the combination of the good faith estimate, HUD-1 settlement statement and Truth In Lending disclosures into a loan estimate form and closing disclosure designed to encompass RESPA, the Truth In Lending Act, Regulation X and Regulation Z. As the dust settled from the rule’s release, The Legal Description talked with several industry experts to get their initial views of the form.
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