CFPB Seeks Comment on Improving Closings

The Consumer Finance Protection Bureau (CFPB) is asking the public for comments about the real estate transaction closing process. The CFPB’s goal is to make the mortgage process safer and with fewer surprises for buyers. The deadline for submitting comments is February 7, 2014. You can find the CFPB’s official “Request for Information" here. This is an opportunity for real estate professionals to offer their experiences and their expertise to help improve the closing process for all involved. CFPB intends to share the results of the comment period with the public prior to any possible rulemaking that may result from its findings.