This month, the Consumer Financial Protection Bureau (CFPB) released several new compliance guides to help settlement agents understand the upcoming changes to the HUD-1 Settlement Statement and Good Faith Estimate. As you know, those changes occur on August 1, 2015. In particular, the CFPB has released a small business compliance guide to help you understand the new changes and view the new forms in practice.
To download the compliance guide, please click on the following link:
In addition, the CFPB has also created a specific 98-page guide to the Loan Estimate and Closing Disclosure. The guide includes instructions for completing the Loan Estimate and Closing Disclosure and highlights common situations that may arise when completing both.
To download the form guide, please click on the following link: