"Instead of weakening regulations, we urge the CFPB to enforce the existing TRID regulations," said Steve Sharpe, senior attorney at the National Consumer Law Center, in a press release. Under current rules, refi borrowers have a three-day pre-consummation waiting period for the Closing Disclosure and then the three-day rescission window after closing. But the consumers' group letter said the right of rescission is required by statute and is a vital protection for consumers. Proceed cautiously for changes to reverse mortgagesIf the CFPB were to make changes to reverse mortgage disclosure requirements , it must "proceed cautiously and clearly," the National Reverse Mortgage Lenders Association commented. NRMLA is looking for a reverse mortgage-specific Truth-in-Lending disclosure which incorporates the TALC table the MBA letter looks to eliminate.