The CFPB has announced two proposed changes to the Truth in Lending Act-Real Estate Settlement Procedures Act final rule.
"We're proposing to give creditors some extra time to provide consumers with revised Loan Estimates after a consumer locks a floating interest rate," Andy Arculin, regulations counsel at the CFPB, said in a Oct. 10 blog post.
Under the current rule, creditors have to give consumers a revised loan estimate on the same day they lock their interest rates.
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