WASHINGTON – The CFPB is launching a pilot program to evaluate “eClosing” solutions and how they can improve the mortgage loan closing process.

“Our goal will be to determine how the eClosing process can be made to reflect the spirit of our Know Before You Owe rule by generating increased consumer understanding, fewer surprises at the closing table, and a more empowered consumer,” said CFPB Director Cordray (pictured at left) on Wednesday during a forum held at the CFPB headquarters in Washington.

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