By Eva Medcroft, Editor for NewMexicoHomeSearch.com
In 2010, the Consumer Financial Protection Bureau was created under the Dodd-Frank Act. The purpose was to create a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.
When financing a home, CFPB’s goal is to ensure home buyers are engaged, prepared and knowledgeable so they are more likely to achieve successful, sustained homeownership.
To empower home-buying consumers with the information they need to make informed mortgage choices, the CFPB has implemented of the TILA-RESPA Integrated Disclosure rule, which is often…