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Consumer Financial Protection Bureau

Not Confused But Informed

Shannon Hicks
Would a senior make perhaps the biggest financial decision of their life, with their largest asset in the midst of confusion and uncertainty and choose to take a reverse mortgage? Most likely not. But that was the impression the Consumer Financial Protection Bureau included in their required report to...

Consumers Union to CFPB: Only as a “Last Resort”

Shannon Hicks
Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they recommend that a reverse mortgage be a loan of last resort when there is no other

GFE & TIL to be combined into one disclosure

Shannon Hicks
[vimeo id=”24023980″ width=”601″ height=”338″] Seniors Staying In Their Homes More seniors are staying in their homes due to the economy. Also, the Consumer Protection Bereau releases a combination of GFE and Truth and Lightning Disclosures. See the new disclosures at the links below:New Disclosures

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