“Toolkit” to Replace Settlement Cost Booklet

The CFPB recently announced the release of the “Your Home Loan Toolkit”, which is intended to be a step-by-Diane11step guide to help applicants throughout the mortgage loan process.

This Toolkit is required for applications received on or after August 1, 2015, and will replace the Settlement Cost Booklet. Delivery will be required within three (general) business days of an application for a closed-end, consumer-purpose loan to be secured by real property (dirt) if the funds will be used to purchase a dwelling.

The Toolkit booklet can be purchased (large or small version) or downloaded here.

Diane Dean

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