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Regulatory Updates
Monday, December 9, 2013
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In addition to releasing the forms and final rule, the CFPB announced a new "Know Before You Owe" information gathering initiative aimed at overhauling the real estate closing process.
CFPB Director Richard Cordray said the bureau will study technologies that could lead to paperless "eClosings." He also said the bureau would work to reduce the stack of paperwork borrowers are confronted with at the closing table.
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