Know Before You Owe
It's back. The CFPB is once again seeking input on what will someday be the combined RESPA/TILA forms. They're changing gears this time and instead of comparing disclosures, they're looking to compare products using the same form. In other words, they want to see if this form does what it needs to do in the end - help consumers compare different loan products. The two forms this time are called Jasmine and Nandina, and the forms themselves are identical. But the loan products are different. So go check them out, and see if they are useful in comparing products, if there is anything that could be clearer, or if the forms are missing important information that would aid consumers in making loan decisions.