The Consumer Financial Protection Bureau is working to simplify mortgage documents and reduce the overall stack of papers that borrowers are confronted with during closing. However, the new agency is running into a number of challenges. "Basically, we've boiled down content that could have filled 10 pages into five or six," according to the CFPB. "Unfortunately, we don't control most of what you receive at closing, so our page reduction efforts can only go so far. For now, we're working on consolidating these forms and making this disclosure better."

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