Editor: David Reiss
Brooklyn Law School

February 11, 2013

CFPB Mortgage Disclosure Forms: Test And Verify

By David Reiss

The CFPB is requesting comments relating to the collection of “information as part of quantitative research related to residential mortgage loan disclosures.”  (8113) The purpose “of the quantitative testing will be to examine whether the disclosures aid consumers in understanding the terms of the mortgage loan that is the subject of the disclosure.”  (8814)  It is great that the CFPB is testing its tools to ensure that they work as intended.  Government has put a lot of faith in the power of disclosures to help consumers make good financial decisions.  It is important to test whether that faith is deserved.

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