| || |
Who is the Reaper ?
The Consumer Financial Protection Bureau has completed a multi-year loan disclosure overhaul. The project, dubbed "Know Before You Owe", has simplified loan disclosures, and put much more onerous requirements on lenders to clarify loan costs up-front and BEFORE the closing table. In a Y2K-like overhaul, the home loan industry has had to revamp software, processing tools and audit checks to prepare for all these changes.
What is that cowbell beat?
It's the steady beat of a predictable, reliable loan closing process that can STILL happen.
So how do you cure that CFPB fever?