The CFPB has released a new toolkit that provides a step-by-stepguide for mortgage-seeking consumers.

Thebureau said it unveiled the toolkit ahead of the August 1effective date of the “Know Before You Owe” mortgage disclosurerule to give lenders time to order and the print the toolkit, aswell as integrate the electronic version into their mortgageorigination systems.

“The new mortgage disclosure forms coming in August will helpconsumers comparison shop for mortgages and avoid surprises at theclosing table,” CFPB Director Richard Cordray said. “We arereleasing this toolkit well in advance of the effective date tohelp the mortgage industry come into compliance with the newrules.”