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New Disclosure Forms a Good Initial Step 

Jun 07, 2011By

Responding to the Consumer Financial Protection Bureau's (CFPB's) call for feedback on proposed new mortgage disclosure forms, the American Bankers Association (ABA) has commended the bureau for their initial step, but noted challenges to be addressed before new disclosures can be implemented.   In their response to the CFPB, the ABA points to several key issues that limited their ability to fully evaluate the proposed draft forms posted by the CFPB on their "Know Before You Owe" page.  The notice of the draft disclosures does not include the proposed timing of the new disclosures, nor the forms that would

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