CFPB clarifies lenders' ability to share ‘closing disclosure’ form

Earlier this year, the Consumer Financial Protection Bureau (CFPB) announced that it was considering changes to the "Know Before You Owe" mortgage initiative – also known as the TILA-RESPA Integrated Disclosure (TRID) – which includes a clarification of the rules regarding sharing the "closing disclosure" (CD) form. Unfortunately, many lenders have chosen to withhold this document from real estate agents since "Know Before You Owe" went into effect. The CFPB is now making good on its promise when it announced a proposed rule on TRID. Read their statement here. More on this can be found here.