Mega Title is CFPB Ready!


Posted on Jun 10, 2015

What is CFPB anyway?

The CFPB, which stands for Consumer Financial Protection Bureau, is a government agency that helps consumers by educating them on federal rules and regulations that are designed to protect them.

 

Additionally, the CFPB monitors compliance, by ensuring companies are aware of and abide by government consumer regulations, and by consistently and fairly enforcing those rules.

 

The CFPB is designed to educate, empower and protect consumers, allowing them to assume more control over their economic lives.

 

What’s New in the World of the CFPB?

There have been some recent regulation changes that affect YOU, the consumer in the costs related to a loan, which include the purchase or refinance of a property.  The CFPB has added new forms and requirements, designed to protect you.

 

These new forms require lenders to promptly provide and clarify important figures such as:

  • Interest rates
  • Closing costs
  • Monthly payments

 

This educates and empowers you to compare costs with other lenders, and provides a more accurate picture of what you’ll actually be paying for your loan over time.

 

As a result, you’ll be more informed to better plan and budget for this new loan, at the beginning of the loan process, long before you close.

 

These changes go into effect August 1, 2015.

For more information on these new regulations, visit these websites:

 

Stewart Title Guaranty Company

WFG National Title Insurance Company

National Mortgage News

Consumer Financial Protection Bureau

 

Check out this informative video on the new CFPB loan regulations!


Rest assured that Mega Title is already prepared for these new changes and has gone above and beyond to ensure our team is CFPB ready!

 

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Mega Title, LLC

721 Route 34, Suite 3
Matawan, NJ 07747
Phone: 732-242-9835
Toll Free: 877-550-MEGA
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Testimonials

  • Samah and her team at Mega Title were efficient and professional in
    handling our refinance closing. I had used them in a prior refinance
    and was so impressed with the attention to detail that I came back
    this time again. They are accomodating to your schedule, meet the
    deadlines so they don't waste your time and most of all treat you as
    if you are their most important customer at all times. I couldn't ask
    for better service - they took care of everything. Just had to show
    up and sign.
  • As a real estate attorney, I have dealt with numerous title companies.
  • I recently refinanced my home. Mega Title really made my life much easier.
  • I really appreciated the excellent service and caring attitude during my refinance.
  • I can't express how impressed I am with your customer service!

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