When I was growing up, I always loved eating alphabet soup. When my mother served it, I knew that she was challenging me to spell words with the letters in the soup. Little did I know that I should have been forming acronyms instead! Acronyms are a part of our lives now—everybody knows some of them, but none of us know them all. This is from a person who thought “LOL” was “lots of love.”
WTH is CFPB?
CFPB is the result of the RESPA/TILA being too complicated. CFPB is currently not accountable to anyone and that is why numerous associations including ALTA, TLTA, NAR, AI, CHLA, CBA, CUNA, ICBA, NAFCU, NAHB, NRA, DOIs, etc. requested a “hold harmless period.” None of those associations are made up. CFPB was set up as FYI bureau. This was a CYA, BTW.
Too Many Acronyms!
I always have a hard time in March knowing if it’s the NCAA or NAACP basketball tournaments I’m watching on TV. My TIVO is recording programs on NBC, CBS, NBC, CNN, MSNBC, and ESPN, but I’ll never watch them.
Other FAQs to consider—should I choose an ARM or is it an ATM? Maybe I should use my AMEX. It worked flying on SWA or was it TWA? What’s the difference between AAA and AA? Are they different airlines? What’s my best ROI?
Now we have the CFPB which created the TRID replacing the TILA and RESPA. The HUD-1 will be used sparingly. The LE replaces the TIL and the GFE. Got that?
The title industry and all real estate-related industries (BFF) have a choir that CFPB can’t hear.
Keep yelling and chewin’!
Craig Dunbar EIEIO