On Feb. 7, the Consumer Financial Protection Bureau or CFPB closed its comment period for consumers to submit their thoughts on the mortgage closing process. For the past month, the agency has sought input from closing and settlement agents, consumers, lenders, housing finance professional, brokers, real estate agents, advocates and other interested parties. The comments provided will be used to research and test solutions that address some of the biggest “pain points” associated with closing on a mortgage.
Read on to see the responses from the title insurance industry