National Mortgage News, July 23, 2012
The latest draft of the Consumer Financial Protection Bureau’s origination disclosure reform rule is initially drawing mixed reviews, with some agreement that the further simplification it suggests could be helpful, but also some concern it adds to what are already heavy regulatory burdens and costs. DocuTech’s Scott Stucky said that while the process on the whole has been more open than previous reforms, he is concerned that some of the elements of the new rule could lead to “the classic situation of law of unintended consequences. Read more about the proposed forms and DocuTech’s take on the pros and cons in the July 23 National Mortgage News or online at http://www.originationnews.com/nmn_features/cfpb-origination-disclosure-change-gets-mixed-reviews-1031656-1.html (free registration required).