The Elixir of Mortgage Closing?
The CFPB has announced the participants selected for its three-month eClosing pilot program. Hoping the program will "provide valuable insight" into efforts to improve the mortgage closing experience, CFPB Director Richard Cordray explained, "we believe that eClosings have the potential to create a better process for everyone involved." The selected participants include both vendors and creditors to assess the effectiveness of a variety of possible solutions to be used. [8/22/14]