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Speak to the CFPB about improving the closing process
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Regulatory Updates
Thursday, January 9, 2014
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The Consumer Financial Protection Bureau (CFPB) is seeking information from industry professionals, consumer advocates and other stakeholders to find out how it can best encourage the development of a more streamlined, efficient and educational closing process as it begins the next phase of its Know Before You Owe initiative.
On Jan. 3, the CFPB issued a notice and request for information in the Federal Register regarding the topic. The notice states that, specifically, the CFPB wants more information on key consumer pain points associated with mortgage closings and how those pain points might be addressed by market innovations and technology.
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