1/13/16 12:20 PM

CFPB Issues Fact Sheet on Construction Loan Disclosures

Earlier this week, the CFPB issued a “fact sheet” regarding construction loans under TRID.  You can find it here: http://files.consumerfinance.gov/f/201601_cfpb_know-before-you-owe-mortgage-disclosures-and-construction-loans.pdf    

This fact sheet does not provide any new information regarding completion of the TRID disclosures for construction loans rather guidance on which loans are applicable.  While there was no new information the CFFPB did end it with the following statement.  "The Bureau is considering additional guidance to facilitate compliance with the Know Before You Owe mortgage disclosure rule, including possibly a webinar on construction loan disclosures.”



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