The CFPB has announced that it will be holding a forum on the mortgage closing process in Washington, D.C. on April 23, 2014. The announcement states that the event will feature remarks from Director Cordray, and a discussion with consumer groups, industry representatives, and members of the public.
The CFPB has indicated that the next phase of its “Know Before You Owe” initiative is to identify ways to improve the closing process. To kick off that phase, the CFPB published a notice in the Federal Register in January 2014 in which it asked 17 questions intended to provide the CFPB with information about “what consumers find most problematic about the current closing process.” The forum appears to be a continuation of those information gathering efforts.
We will be attending and reporting on the forum.