5/25/2011

The Consumer Financial Protection Bureau, under the leadership of Elizabeth Warren, is planning to start testing its proposed new mortgage documents this summer. "We will keep testing, adjusting and retesting from the public and industry comments we receive until we get it right," Warren said. However, industry insiders say the testing likely won't mimic actual conditions under which the disclosures would be read. The Financial Services Roundtable has suggested a pilot program "with a small group of lenders."

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