I was part of a panel of experts yesterday teaching Realtors of new regulations coming up. The regulations are part of the Consumer Finance Protection Agency (CFPB) rules. Most people who have not bought or sold a house in a long time will not even notice the change. It is the professionals that work with buyers everyday that will notice.
Essentially the regulation is one to attempt to make shopping for a home loan more transparent and easier to understand for the consumer (borrower). And to understand better what the loan is.
My personal feeling on this is the new forms do seem to be a good tool. However, my clients who use any of my recommended lenders have been getting their loans explained to them all along. But this should make it a little bit easier for our lenders to do their job.
Author:Adam Bogle Phone: 541-708-3630 Dated: August 28th 2015 Views: 282 About Adam: ...
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