House Financial Services Committee to hold hearing on mortgage disclosures

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A hearing on “Mortgage Disclosures: How Do We Cut Red Tape for Consumers and Small Businesses?” has been scheduled for June 20 at 1:30 p.m. by the House Financial Services Committee. The Subcommittee on Insurance, Housing and Community Opportunity will be looking at the CFPB’s efforts to carry out Dodd-Frank’s mandate for the CFPB to create combined TILA/RESPA disclosures. The CFPB has tested a series of prototypes for the combined disclosures and we commented on the prototypes used in the fourth (and final) round of testing.