On June 4, the Consumer Financial Protection Bureau (CFPB) took steps to provide rules and guidance for the upcoming transition away from LIBOR for adjustable rate loans. The CFPB issued the following:
A revised version...more
Mortgage lenders are all too familiar with borrowers’ assertions that they did not receive two properly dated copies of the Truth-In-Lending Act (“TILA”) mandated Notice of Right to Cancel form (“NORTC”) at closing. Under...more