“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-step 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.

Published
2015/04/08
Diane Dean
Diane Dean

Diane Dean

Diane joined Banker’s Compliance Consulting with over 10 years of compliance experience and over 15 years of experience within the financial industry. Diane is a Certified Regulatory Compliance Manager (CRCM) and has a Bachelor’s Degree in Sociology with a concentration in Criminal Justice. She is a graduate of the Schools of Banking Compliance School and has participated in various other training opportunities throughout her career. Diane understands firsthand the struggles banks face in building and maintaining successful compliance programs. Her experience and common sense approach to consumer compliance is a great asset to our clients. Diane and her husband have two kids who keep them busy. She enjoys running and other sports and is a big Bugs Bunny fan! She’s a bit crazy in that she does enjoy reading some of these regulations and she’s a “crazy cat lady!” Her cat tales are hilarious!

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