Stevens Statement on Updates to “Know Before You Owe” Rule

Stevens Statement on Updates to “Know Before You Owe” Rule

WASHINGTON – August 01, 2016 (RealEstateRama) — Statement from MBA President & CEO David H. Stevens on the Consumer Protection Financial Bureau’s (CFPB) proposed updates to the TILA-RESPA Integrated Disclosure “Know Before You Owe” rule:

“MBA appreciates the CFPB’s efforts to update and clarify certain aspects of the “Know Before You Owe” rule. This particular regulation has a big impact on both borrowers and lenders, so it’s important that the Bureau and stakeholders continually reassess the implementation process to ensure its effectiveness. We look forward to commenting on the rule, and continuing to work with the CFPB to gain further clarity in order to improve this and other rules and regulations.”

CONTACT
Rob Van Raaphorst

(202) 557- 2799

SHARE
MBA

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

Previous articleHUD Properties Available for Homeless Services
Next articleConsumers Stand to Win Big With Proposed ‘Know Before You Owe’ Rule Coming Their Way