The Consumer Financial Protection Bureau (“CFPB”) has released new prototype mortgage “shopping sheets” on which it seeks public input. The disclosures – called Redbud and Dogwood – appear at http://www.consumerfinance.gov/knowbeforeyouowe/ and present standard information regarding typical mortgage loan terms in different ways. According to the CFPB, these forms intend to be more effective at “communicating closing costs.” The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 directed the CFPB to propose model disclosures that combine the disclosures required under the Truth in Lending Act and Sections 4 (the HUD-1 settlement statement) and 5 (the closing costs information booklet and the good faith estimate) of the Real Estate Settlement Procedures Act into a single, integrated disclosure. The Dodd-Frank Act gave the CFPB one year from the designated transfer date of July 21, 2011 to develop the combined disclosure, which aims to improve consumer understanding of mortgage costs.