Part of the Dodd-Frank bill gave the Consumer Financial Protection Bureau the assignment of combining the Truth In Lending (TIL) statement with the Good Faith Estimate (GFE) by July 2012.
2-21-2012: Here are the latest versions of the new Settlement Disclosure form for home buyers who apply for mortgages (Butternut and Hemlock - great names huh - Hemlock relates to death - terrific!) - http://www.consumerfinance.gov/knowbeforeyouowe/
Note: I wonder when people pay cash for properties, will this form be used to identify non-loan related expenditures and protect "cash" consumers with competitive disclosure details?
Source: http://www.dsnews.com/articles/new-mortgage-disclosure-form-to-help-safeguard-against-default-cfpb-2011-05-18
Source: http://www.mortgagenewsdaily.com/05182011_gfe_til_combined.asp
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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