Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
DocuTech participates in CFPB initiative
IDAHO FALLS, Idaho (1/2/13)--DocuTech Corp., an Idaho Falls, Idaho-based mortgage document compliance services provider, is leading a response from lenders to the Consumer Financial Protection Bureau's (CFPB) recently announced Project Catalyst, which seeks to involve mortgage executives in testing new disclosure forms.

.

The CFPB has been working on new mortgage disclosure forms, which outline the expected closing costs and terms of the mortgage for consumers, for the past 18 months. As part of this initiative, the bureau's goal is to encourage credit unions, banks and other financial services companies to propose and conduct trial disclosure programs.

DocuTech is leading a group of lenders in testing different formats to provide feedback to the CFPB.

"The CFPB recognizes that what seems like a good idea in theory often hits unexpected obstacles when put into full production," said Scott K. Stucky, DocuTech chief operating officer. "We are in a unique position to help lenders not only evaluate the disclosures from a content perspective, but to also test ease of implementation and the impact to operations."


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
6 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
8 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
8 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
8 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
9 hours ago