The Consumer Financial Protection Bureau has issued an extension for new mortgage disclosures, initially slated to go into effect in January. The agency will wait to implement the new disclosure forms until other mortgage rule makings have been completed.
While some of these new disclosures were originally to be implemented by January 21, 2013, the CFPB issued a 36-page final rule entitled on Friday, November 16, 2012, that gives the industry extra time to provide these new disclosures.