Combining the RESPA based Good Faith Estimate with the TILA disclosure required by the Truth In Lending Act into one easy to understand form is one of the many mandates given the recently created federal Consumer Finance Protection Bureau. I wrote last week in my February Mortgage Market Share commentary about an American Land Title Association suggested version of such a combined form. (click archives button on right sidebar) 

Others are also noticing that the current form of GFE falls short in providing consumers with all the information that they require to make intelligent decisions. Today’s New York Times contains an article about other problems with the form. It’s a good read and here’s the link.

 http://www.nytimes.com/2011/03/27/realestate/27Mort.html?_r=1&partner=rss&emc=rss