Understanding New Loan Closing Disclosure Forms

Federal law required that consumers be provided two different disclosure forms at the time of their loan closing. The information on the two forms was often overlapping, inconsistent and confusing for consumers. The Dodd-Frank Act directed the CFPB to meld the two forms into a single disclosure form that would be easy for consumers to understand. This video takes a look at page one of the new form, we encourage you to contact our office if it generates any questions.