Skip to main content

NAMB Reports on New Mortgage Disclosures

Richard Bettencourt
Nov 26, 2013

If NAMB's initial interpretation of the new mortgage disclosures holds, then the CFPB really should be applauded for their work on the new integrated mortgage disclosures. NAMB thanks the CFPB and the teams that worked on the new forms for listening to our commentary and taking our suggestions into consideration. A factsheet about the "Know Before You Owe" mortgage disclosures is available by clicking here. A factsheet about the testing process the CFPB used to arrive at today's rule is available by clicking here. The "Know Before You Owe" mortgage disclosure rule will be available by clicking here.   Our efforts, along with your support, really do go a long way. We may not always make our efforts public, but understand that we have our industry's best interest as well as that of the consumer at heart. NAMB does have open lines of communication with our regulators and we will continue to work with them to improve the state of housing and do what is best for the consumer. Thank you again for all of your support. I look forward to reporting back next week. Please share this with your colleagues, friends, and customers. Richard M. Bettencourt Jr., CRMS, CMHS of Danvers, Mass.-based Mortgage Network is Government Affairs Committee Chair of NAMB—The Association of Mortgage Professionals. He may be reached by phone at (978) 777-7500 or e-mail [email protected]
Published
Nov 26, 2013
Crime Stories From The Trenches

Bad brokers, renegade Realtors, treacherous title agents. It’s getting tough out there.

Regulation and Compliance
Oct 26, 2021
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021