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Technology is transforming everything. Soon, consumers will find themselves being offered platforms that allow borrowers to access mortgage closing documents online.

Today, the process of getting a mortgage is easier to understand because the Know Before You Owe mortgage disclosure rule is now in effect. We’ve put together some frequently asked questions about the new rule and how it will make the mortgage process easier for you.

The Closing Disclosure is a five-page form that helps you understand the key features, costs, and risks of your mortgage loan. These changes make it easier to understand the terms of your mortgage before signing on the dotted line.

The new form is part of our Know Before You Owe mortgage disclosure rule that’s making the mortgage process work better for you. The Loan Estimate uses clear language and design to help you understand the key features, costs, and risks of a loan offer you’ve received from a lender.

You have the right to compare offers and understand the terms before you sign on the dotted line. After four years of work, these new forms and tools will help you shop for the best deal and avoid costly surprises when you sign on the dotted line.

Today we’re releasing the results of a pilot program where we explored tools and process changes that can help consumers better navigate closing by accessing and signing their closing documents in different ways. Specifically, we examined what would happen if there was more technology involved in the mortgage closing process, with documents being delivered electronically earlier together with online tools and resources. The electronic delivery and signing of closing documents using electronic signatures is sometimes referred to as eClosing.

Today, we held a forum on our Know Before You Owe eClosing pilot findings here at the CFPB. The forum featured remarks from Director Richard Cordray, as well as a panel discussion.

Today, we’re issuing a final rule delaying the effective date for the Know Before You Owe mortgage disclosure rule to October 3, 2015. The Know Before You Owe rule will improve the way you’ll receive information about mortgage loans, both when applying for a loan and when you’re getting ready to close.

The forum will take place on Wednesday, August 5 at 1 p.m. EDT, and will feature remarks from Director Richard Cordray, as well as a panel discussion with consumer groups, industry representatives, and members of the public.

Giving you three business days to review your Closing Disclosure before you sign on the dotted line is designed to protect you from surprises at the closing table. It also gives you time to consult with your lawyer or housing counselor and ask all the questions you might have about the terms of your mortgage.