Posts Tagged: consumer finance protection bureau

New Consumer Protection Rights

Posted by & filed under Blog.

The CFPB has created a consumer guide that many lenders are probably not aware of. It is titled, “What the new ECOA appraisal and other valuations rule means for consumers.” Click Here to View Guide. It explains how the lender cannot discriminate because of race, color, national origin, sex, religion, marital status, age, income from public assistance,… Read more »

New Rule Requires Lenders to Provide Free Copy of Appraisal

Posted by & filed under News.

On Friday, the Consumer Finance Protection Bureau announced they have amended ECOA, Regulation B. The revisions to Regulation B require creditors to provide applicants with free copies of home appraisals before closing, and require creditors to notify applicants in writing that copies of appraisals will be provided to them promptly. The rule will go into effect… Read more »