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CFPB Convenes Small Business Panel for Know Before You Owe Mortgage Disclosures

The Consumer Financial Protection Bureau (CFPB) announced its formation of a Small Business Review Panel as part of its plan to combine the mortgage disclosure forms that borrowers receive when applying for and closing on a loan.  The purpose of combining these disclosures is to make the costs and risks of the loan clearer for the borrowers as well as reducing the burden on lenders. The review panel will complete a report within 60 days of convening that will include input received from small providers during the panel process.  For more information regarding this panel, click here.

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