This bill amends federal lending disclosure laws to make mortgage processes simpler and less costly for both lenders and borrowers. The legislation relaxes several strict compliance requirements by allowing lenders more flexibility on closing cost estimates, reducing mandatory waiting periods between disclosures in certain situations, and expanding tolerances for interest rate accuracy from 0.125 percentage points. It also provides legal protections for lenders who rely on settlement agents or follow Consumer Financial Protection Bureau guidance, and gives lenders 60 days to fix first-time violations before facing penalties. The bill requires the Consumer Financial Protection Bureau to issue updated regulations within 180 days to clarify standards for vendor management and oversight. Overall, the changes are intended to reduce compliance burdens on mortgage lenders while preserving consumer protections through restitution rights for any financial harm.