CFPB Provides Seven-page Summary of Mortgage Disclosure Rule

If you don't have time to read all 1,888 pages of the Consumer Financial Protection Bureau's final rule for integrated mortgage disclosures, the Bureau has provided this great summary document, which addresses the scope of the rule, highlights the new Loan Estimate and Closing Disclosure, limits on closing cost increases and proposals not adopted in the final rule.

The CFPB listened to ALTA concerns and gave the industry plenty of time to implement the new forms as the final rule becomes effective Aug. 1, 2015.

You can download a PDF of the summary here.