The House of Representatives has given resounding (401-2) approval to a measure demanding more transparency from the Consumer Financial Protection Bureau (CFPB). Sponsored by Randy Neugebauer (R-TX) and Andy Barr (R-KY), the measure would require all CFPB advisory and subcommittees to hold open meetings. “This bill ensures that we, as an American family, can see… Read More »

The Consumer Financial Protection Bureau has mandated a massive overhaul of the mortgage disclosure requirements designed in large part to help home buyers shop more effectively for mortgages. An even more serious problem may be that consumers don’t shop for mortgages at all. A CFPB analysis of borrowers who purchased homes in 2013 found that… Read More »

That summarizes the mortgage industry’s consensus response to the new “Rate Checker” tool the Consumer Financial Protection Bureau (CFPB) announced recently as part of an “Owning a Home Toolkit” designed to help homebuyers shop for mortgage loans. Using basic information consumers enter about their location, loan amount and collateral value, the rate checker produces prevailing… Read More »