CFPB announces mortgage-fee limits

The Consumer Financial Protection Bureau has released rules limiting the fees that mortgage lenders can charge borrowers. The release comes in advance of a formal rule proposal, expected this summer. The rules are meant to eliminate confusion among borrowers about origination points and discount points. "We want to bring greater transparency to the market so consumers can clearly see their options and choose the loan that is right for them," said CPFB Director Richard Cordray.

View Full Article in:

New Rules May Curtail Some Fees in Mortgage - New York Times (tiered subscription model), The

Published in Brief: