CFPB Archive

Understand the Oct. 3 Changes to HUD-1, Closing Process

The days of filling out the HUD-1 settlement form and getting a Good Faith Estimate (GFE) from the lender are winding down. On August 1, those two forms are going away. The Truth in Lending Act (TILA) disclosure form...
February 17, 2015

CFPB Advisory Board: It’s all About Balance

The Consumer Financial Protection Bureau (CFPB) is writing rules that can have an enormous impact on real estate. The qualified mortgage (QM) rule, which sets out lender  standards on what constitutes borrowers’ ability to repay, is one of them....
September 17, 2012

Proposed HUD-1, GFE Revamp: Too Much?

About two years ago, the U.S. Department of Housing and Urban Development revamped the HUD-1 Settlement Statement and the Good Faith Estimate (GFE). Among other things, the forms were shortened and some “tolerances” were added to decrease the incidences...
July 19, 2012

Will Regulators Make the QRM Mistake All Over Again?

It’s the QM rule’s turn in the spotlight, and so far a federal proposal raises concerns If you’re applying for a loan, what determines whether or not you can repay that loan? That’s what a federal regulator is trying...

Financial Sheriff Opens Up on GFE-TILA Forms

By Robert Freedman, Senior Editor, REALTOR® Magazine The country’s newest banking regulator is trying to make it easy for practitioners and consumers to comment on a mortgage disclosure form. That’s a break from the past. The new Consumer Financial Protection...
May 23, 2011