FTC says CFPB should conduct more tests before finalizing combined mortgage disclosures

The Federal Trade Commission lauded the CFPB’s effort to combine the various mortgage disclosures required under the Real Estate Settlement Procedures Act and the Truth in Lending Act. However, the FTC said the bureau should conduct more testing before it finalizes rules implementing the new disclosures. Read on to learn what the FTC had to say about the bureau’s proposed forms in a recent comment letter.