In This Issue:
CFPB Proposes New Mortgage Disclosures Forms; Making Sense Out of HOEPA; Six (6) Additional CFBP Rulemakings Pending; Lessons To Be Learned from Capitol One; NFIP Extension Makes Big Changes; Mississippi Mortgage Servicing Requirements; Mississippi Law Update; MRCG Quarterly Meeting to be Held on August 16, 2012; MRCG Compliance Calendar; and, Examples of Proposed Forms.
Excerpt from CFPB Proposes New Mortgage Disclosure Forms:
On July 9, 2012, the CFPB issued its proposed rule creating new mortgage loan disclosure forms. These forms, when finalized, will replace the current disclosure forms given to borrowers under the Truth in Lending Act ("T1LA") and the Real Estate Settlement Procedures Act ("RESPA"). The first of these forms, given shortly after a borrower submits an application, is called the "Loan Estimate." And the second disclosure form, given prior to the actual closing of a loan, is called the "Closing Disclosure." (Examples of these proposed forms appear at the end of this newsletter.)...
Please see full newsletter below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.