CFPB > Home Buyers and Sellers

North American Title Company – dedicated to education and transparency for our home buyer and seller customers


In 2010 in response to the financial crisis that precipitated the Great Recession, Congress passed the Dodd-Frank Act, which created stricter rules for lenders and increased transparency for consumers. The new law included the creation of the Consumer Financial Protection Bureau (CFPB) to bring all consumer protection laws under one umbrella.
 
One of the mandates for the CFPB was to combine the complicated closing disclosures required under the Truth in Lending Act and the Real Estate Settlement Procedures Act into a more understandable, transparent and integrated form. The result is the new Loan Estimate and Closing Disclosure.
 
In 2015, the real estate industry is making the transition to the new Loan Estimate and Closing Disclosure. This is good news for consumers, who will be afforded more education about the mortgage loans they acquire for the purchase of their homes, and a greater opportunity to compare costs and make decisions about the service providers they are using.

Understanding the New Forms
To help our home buyer and seller customers understand the new forms, we have created a 12-page brochure explaining each section of the Loan Estimate and Closing Disclosure. Click on the link to download a PDF of the form.

Understanding the New Loan Estimate and Closing Disclosure
 
 
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North North American Title Videos

In recent months, we have created  educational videos covering the new CFPB forms, as well as general real estate education. Check out our videos at www.nat.com/NATTV or click on a link below:
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CFPB Know Before You Owe:
Consumer Information


The CFPB has provided extensive resources for the consumer on its website, www.consumerfinance.gov. Here are links to some materials that may be helpful, as you contemplate buying a home: