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Request for Information Regarding Promoting Access to Mortgage Credit
Plain English Summary
The Consumer Financial Protection Bureau (CFPB) is asking for input from the public on possible changes to regulations that could make it easier for people to get mortgage loans. They want to hear about any rules that might be making it harder for qualified borrowers to access mortgage credit. Specifically, they are looking for feedback on the current mortgage disclosure requirements and other related regulations that might be too burdensome for both consumers and the industry. Agents should consider sharing their experiences and insights to help shape these potential changes.
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This notice requests information from the public about potential regulatory changes that may reduce regulatory burdens and promote access to mortgage credit, as appropriate and consistent with applicable law. The Consumer Financial Protection Bureau (Bureau or CFPB) seeks to reduce unwarranted regulatory burdens to ensure that creditworthy borrowers can access mortgage credit. Specifically, the CFPB is requesting information on industry and consumer burdens related to the integrated mortgage disclosures under the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) (TILA-RESPA integrated disclosures or TRID), the right of rescission, and reverse mortgage disclosures.