Comment on CFPB-2012-0028-0406

Document ID: CFPB-2012-0028-0491
Document Type: Public Submission
Agency: Consumer Financial Protection Bureau
Received Date: September 07 2012, at 06:32 PM Eastern Daylight Time
Date Posted: September 10 2012, at 12:00 AM Eastern Standard Time
Comment Start Date: September 6 2012, at 12:00 AM Eastern Standard Time
Comment Due Date: September 7 2012, at 11:59 PM Eastern Standard Time
Tracking Number: 8110d3e4
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This is comment on Proposed Rule

Integrated Mortgage Disclosures under Real Estate Settlement Procedure Act (Regulation X) and Truth in Lending Act (Regulation Z)

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I am going KISS: Consolidate or integrate the forms. Not a bad idea. Keep the definitions for the FED BOX items as is. After 30+ years I have finally become fairly adept at explaining these to customers. TIP?? ACF?? Are you kidding?? Meaningless and even scaremongering for 99.9% of customers. Go back to the previous version's use of Total out of pocket needed for closing including the down payment. And show the initial total payment breakout. SIMPLIFY GUYS!

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Comment on CFPB-2012-0028-0406
Public Submission Posted: 09/10/2012 ID: CFPB-2012-0028-0491