New forms, new ways for Fort Myers and Cape Coral Closings. The Consumer Financial Protection Bureau (CFPB) has issued new rules nationwide for closing loans. The new rules and forms will allow consumers to better understand what they are getting into in terms of the loan and obligations.
The new form will now have to be given to the client three business days before they close on the loan. This replaces the HUD1/settlement statement.
Take a look at the new CLOSING DISCLOSURE FORM for changes.
The new rule and forms go in to effect as of August 1, 2015.
Still time to review and get to know these so you feel comfortable. Call Jennifer Ferri at Title Junction today for a FREE review – 239-415-6574.