The New Closing Process: What Borrowers Need to Know

The New Closing Process
October 5, 2015

The Consumer Financial Protection Board changed the closing process for all loans originated after October 3, 2015. Here is how these changes will affect you. Benefits The changes were designed to make it easier for consumers to understand important information about their new mortgage, and to give them more time to review documents. Consumers are now informed earlier in the process how much cash they need to bring to closing….