Welcome to the Notary Talk General Discussion Forum. Before posting, please read the
You are replying to this message:
Report by CFPB-Mortgage Closing Pain Points & eClosing pilot Posted by Linda_in_IN on 4/24/14 12:32pm
Apologies for the long link. And don't shoot the messenger, only providing links to info that I think might be of interest. The article refers to a report by the CFPB, supposedly done over the past year, which discusses
"The Consumer Financial Protection Bureau (CFPB) has published a report which finds that many consumers are frustrated by the short amount of time they have to review a large stack of complex closing documents when finalizing a mortgage. The bureau also released guidelines for an upcoming eClosing pilot project to assess how electronic closings can benefit consumers as they navigate the mortgage closing process."
"This report and the upcoming pilot program are not part of a rulemaking process, but rather are designed to promote best practices in the marketplace."
