(1) www.msnmoney.com The new Consumer Financial Protection Bureau will start operating. By July 21, the structure to promote what may be a sweeping overhaul of mortgage products, processes and disclosures will be put in place. It seems likely that mortgage disclosure reform will be first on the list for the bureau to tackle. Confusing, unclear and seemingly conflicting documentation has been implicated in the mortgage-market mess, and a push for more explicit yet simpler forms for consumers to review and sign are thought to be a top priority for the new body. Fannie Mae and Freddie Mac will change . . . maybe. Reforming the government-sponsored enterprises (GSEs) has been an on-again, off-again, on-again crusade for the last couple of administrations.