Call to Action: this must be done by Tuesday, July 7th.
The Consumer Financial Protection Bureau (CFPB) requests comments on amendments to the “Know Before You Owe” mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015.
Individual appraisers know it’s very important to disclose separately any add-on fees such as AMC fees or administrative costs by banks and lenders to consumers.
Recently, 23 state appraiser coalitionscoordinated and drafted a letter to the CFPB detailing the accounting discrepancy to consumers on the Loan Closing Disclosure Document as to actual appraiser fee disclosure.
Now, it’s our turn to do our part and you’re being asked to take a minute to make a personal comment to the CFPB. This is part of us having our seat at the table. Description: Comment ButtonKeep it simple, it’s about transparency to consumers.
Click here, then in the comment page site, use the blue “comment” button. You will be asked to include your name at a minimum, but can also provide your address if you so choose.
It’s just important that you make a comment.
Let’s flood them with comments from appraisers about this issue.
Once you’ve submitted your comment, please share this article with other appraisers you know or have on your e-mail group list.
Have any comments or would you like to submit content of your own? Email firstname.lastname@example.org