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CUNA Seeks Your Comments on Mortgage Closing Process

The Consumer Financial Protection Bureau (CFPB) is planning to develop a more streamlined, efficient and educational mortgage closing process. To assist in understanding what consumers find most problematic about the current closing process, the Bureau has issued a Notice and Request for Information seeking input on 17 questions covering:

  • Consumers and Closing
  • Errors and Changes at Closing n Other Parties at Closing
  • Closing Documents, and
  • Improving Closing

The Comment period is short – less than 30 days. The Credit Union National Association's (CUNA) Regulatory Advocacy team would like your input on any of these questions by January 31, to make sure your interests are represented as the CFPB moves forward with this initiative.

You can respond to the 17 questions through CUNA’s Mortgage Closing Process survey or file directly with the CFPB, identified by docket number CFPB-2013-0036.

For more information about this proposed rule, contact CUNA Deputy General Counsel Mary Dunn or Associate General Counsel Jared Ihrig.

Click here for the proposal.