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Changes to Closing Disclosure Procedures Approved By CFPB

7.12.17

The federal government's Consumer Protection Financial Bureau has ruled that REALTORS® and other third parties may now have access to the closing document information from lenders prior to closing. This ruling reverts back to the practice prior to the changes made by the CFPB two years ago when REALTORS® were commonly privy to closing details.

 This change may very well prevent errors that have cropped up because of the inability of REALTORS® to review the documents prior to closing.

Read more in this NAR REATLOR® Magazine article.

 

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