[Federal Register Volume 80, Number 183 (Tuesday, September 22, 2015)]
[Notices]
[Pages 57154-57155]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-24031]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Notice of Availability of Translated Consumer Information Booklet

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice of availability.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) announces 
the availability of a Spanish-language translation of a consumer 
publication, the Home Buying Information Booklet, also known as the 
Special Information Booklet or the Settlement Cost Booklet, required 
under the Real Estate Settlement Procedures Act (RESPA), Regulation X, 
and Regulation Z. The title of this publication is Su conjunto de 
herramientas para pr[eacute]stamos hipotecarios: Gu[iacute]a paso a 
paso (English title: Your home loan toolkit: a step-by-step guide).

ADDRESSES: The Spanish translation of the consumer publication is 
available for download on the Bureau's Web site at 
www.consumerfinance.gov/learnmore and can also be found in the Catalog 
of U.S. Government Publications (http://catalog.gpo.gov), maintained by 
Superintendent of Documents, U.S. Government Publishing Office, 
Washington, DC 20402.

FOR FURTHER INFORMATION CONTACT: Julie Vore, Originations Analyst, 
Office of Mortgage Markets; or David Friend, Counsel, Office of 
Regulations; [email protected] or (202) 435-7700.

SUPPLEMENTARY INFORMATION: The Bureau is publishing this notice of 
availability to inform the public of a Spanish-language translation of 
the recently revised Home Buying Information Booklet (Booklet). 
Background and contents of the Booklet were provided in the Notice of 
availability of the English-language version of the Booklet in 80 FR 
17414, on April 1, 2015.

Distribution and Use of the Translated Toolkit

    The Bureau views this Booklet as part of the Bureau's broader 
mission to educate consumers about consumer financial products. The 
Booklet was revised to, among other things, improve its readability and 
usability and link to the Bureau's Web site for tools and resources 
that consumers can use to make better-informed decisions about 
homeownership. Pursuant to 12 CFR 1026.19(g)(2), creditors may not make 
changes to, deletions from, or additions to the Booklet, other than 
certain types of changes to the cover page.
    Under 12 U.S.C. 2604(a), the Bureau is required to prepare a 
booklet to help consumers applying for federally related mortgage loans 
to understand the nature and costs of real estate settlement services. 
Under 12 U.S.C. 2604(d) and 12 CFR 1024.6(d) and 1026.19(g), each 
lender is required to provide the Booklet to each person from whom it 
receives an application for certain mortgage loans. The statute and 
regulations require the lender to deliver the Booklet or place it in 
the mail not later than three business days after the lender receives 
an application. Lenders are required to provide the Booklet in the 
version that is most appropriate for the person receiving it. 12 U.S.C. 
2604(d). Just as with the revised English-language version announced on 
March 31, 2015, the Spanish-language version of the Booklet has been 
designed to help consumers make better-informed decisions about 
homeownership and understand the nature and costs of real estate 
settlement services. The Bureau encourages all mortgage market 
participants (including real estate agents, homeownership counselors, 
and mortgage brokers, for example) to provide the Booklet to consumers 
at any time, preferably as early in the home- or mortgage-shopping 
process as possible.
    Those who provide the Booklet should be aware that both the revised 
English and Spanish-language versions include information on the new 
Loan Estimate and Closing Disclosure that generally is required to be 
provided to consumers for applications for federally related mortgage 
loans that are received on or after October 3, 2015. Accordingly, the 
Bureau believes that

[[Page 57155]]

the English and Spanish versions of the Booklet, entitled Your home 
loan toolkit: A step-by-step guide or Su conjunto de herramientas para 
pr[eacute]stamos hipotecarios: Gu[iacute]a paso a paso, respectively, 
should be used only after that date.
    The Bureau also announces that it has fixed a typographical error 
in the ``small'' English-language version of the Booklet. This error 
was nonsubstantive: A duplicate sentence located on page 44. The 
corrected version is now available on the Bureau's Web site as well as 
in the Catalog of U.S. Government Publications.

    Dated: September 14, 2015.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2015-24031 Filed 9-21-15; 8:45 am]
BILLING CODE 4810-AM-P