On May 18th, the Consumer Financial Protection Bureau ("CFPB") announced that it has drafted a mortgage disclosure statement combining two federally required mortgage disclosures into a single form. The CFPB will begin testing two alternate prototype forms to be given to consumers who have just applied for a mortgage loan. The testing will precede and inform the CFPB's formal rulemaking process. Treasury Department Press Release (with links to CFPB testing website and to prototypes). On May 17th, Bloomberg reported the response of consumer advocates and the lending industry to the forms. Response.