The CFPB Hotline is Now Available

The Fund has developed a full range of resources for you to learn about and be ready for the new closing process rules created by the Consumer Financial Protection Bureau (“CFPB”). If you have not already had the chance to visit our Readiness Page (Link to Site), now would be a great time. As new information is made available from lenders, the CFPB, and industry sources, it is being posted to this webpage. In addition, all of The Fund’s CFPB-related training resources are located here, including our ALTA Best Practices templates and registration information for our Legal Education Department’s Closing Disclosure Form live Fundinars.

As an added resource, we are very excited to announce the "CFPB HOTLINE" - two ways for you to ask questions and get answers about the new Closing Disclosure rules. You can send questions through email or by calling a dedicated, toll-free number:

cfpbfaq@thefund.com

1-844-CFPB-FAQ or 1-844-237-2327

The phone line will be operational during normal business hours, but there is a voicemail box for messages (or questions) if you call after-hours.

Our staff is ready to answer questions such as:

• Are the new forms limited to residential transactions, or do they affect commercial transactions as well?
• Who will prepare the Closing Disclosure?
• How will information be exchanged between settlement agents and lenders?
• Where can I get a copy of the new forms?
• How will title insurance premiums be disclosed on the Closing Disclosure?
• When will DoubleTime 7.0 be available for download?

Specific, technical questions related to DoubleTime 7.0 will be answered by the CFPB HOTLINE after DoubleTime 7.0 becomes available for download.

With so many changes happening in our industry, we are dedicated to ensuring that our Members receive the highest quality resources and education in Florida Real Estate. I hope you are as excited as I am about the addition of the CFPB HOTLINE and that you find it beneficial during this time of transition.

As always, thank you for your valued Membership and support of The Fund.

Best Regards,

Melissa Jay Murphy
Senior Vice President
and General Counsel