The CFPB has announced two proposed changes to the Truth in Lending Act-Real Estate Settlement Procedures Act final rule.
"We're proposing to give creditors some extra time to provide consumers with revised Loan Estimates after a consumer locks a floating interest rate," Andy Arculin, regulations counsel at the CFPB, said in a Oct. 10 blog post.
Under the current rule, creditors have to give consumers a revised loan estimate on the same day they lock their interest rates.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
