New mortgage disclosure rules take effect Oct. 3

The mortgage process isn't easy and it involves paperwork - lots of confusing paperwork. Fresno mortgage lenders say they've been told to expect longer closing periods from 30 to 45 days. The Consumer Financial Protection Bureau is rolling out two new forms, a requirement under the Dodd-Frank Act, called a Loan Estimate and Closure Disclosure. They replace the current Good Faith Estimate and Truth in Lending disclosures which are confusing for the client, said Randy Dailey, division president of