Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Monday, February 13, 2012

CFPB Releases Sample Mortgage Statement

The CFPB released another mortgage form as a part of its ongoing project to revamp the forms in the mortgage lending space. The statement, announced by Director Cordray, is required by Dodd-Frank to contain:
  • The principal loan amount
  • The current interest rate
  • The date on which the interest rate may next reset
  • A description of any late payment fees and any prepayment fee to be charged
  • Information about housing counselors
  • Phone number and email address for borrower to obtain information about the mortgage
  • Other information the CFPB may prescribe in regulation
The CFPB is taking comments on the statement draft at MortgageStatement@cfpb.gov.

Read more and view the statement.

No comments:

Post a Comment

Please read our comment policy before making a comment.