The Consumer Financial Protection Bureau (CFPB) might not be at the top of real estate professionals’ list of worries in 2015, but I guarantee you that this is not the same case for Stewart, our network of Trusted Providers or our lender customers. CFPB has become an acronym that we use daily. Our heads have been down and our sleeves have been rolled up working on how the real estate closing process will be changing with these new regulations. We have a seat at the table in the mortgage and title industries planning for these changes, have been building our systems in advance, and are proactively educating our customers on how these new regulations will change our business. Yesterday, I was pleased to see that the National Association of REALTORS® (NAR) has begun to speak out about what the Consumer Financial Protection Bureau’s (CFPB) rule on integrated mortgage disclosures will mean for their members’ business. The following articles provide insight to real estate professionals on how the August 1st change will affect them, their homebuyers and sellers and residential transactions.
REALTOR® Magazine: Last-Minute Closing Changes to Get Difficult
Stewart also spoke out on the changes for brokers, click here for our recap http://rismedia.com/2014-09-10/cfpb-update-for-real-estate-brokers/. I know I personally am vested in the changes we will be making for our customers, and will work to keep you posted of any updates as we all head forward to August 1st. Stay tuned to stewart.com/cfpb for the latest information, or visit the CFPB’s Know Before You Owe website.