Chaos in the Mortgage World
May 18, 2015
If you plan to purchase or refinance a house this year, do not wait until August 1, 2015. That is the day that the new disclosure requirements and forms promulgated by the Consumer Financial Protection Bureau (the “CFPB”) go into effect and many participants in the world of mortgage lending are expecting chaos. The current forms have been in use for 30 years and the new forms require an entire industry to be completely re-trained.
What will be the effect on you, if you purchase or refinance a home after August 1st?
Read the full article written by Elizabeth P. Johnson, an AV Preeminent-rated attorney at Hanszen Laporte specializing in real estate.