CFPB Publishes Final ‘Know Before You Owe’ Rule

The Consumer Financial Protection Bureau on July 7 published final updates to its “Know Before You Owe” mortgage rule, offering amendments on finance charge disclosures, disclosures tied to housing assistance that a borrower receives, and when information can be shared with third-parties, including real estate agents. Of particular interest to NAHB, the final rule clarifies disclosures for construction and construction-to-permanent loans addressing many of the concerns lenders have expressed in making these loans.

Powered by WPeMatico