Home Loans Mortgage: FEEDBACK NEEDED: Simplifying Mortgage Disclosures

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Jun 29, 2011 2:44PM

FEEDBACK NEEDED: Simplifying Mortgage Disclosures

Transparency is critical and today much of the paperwork associated with a mortgage is far too confusing. Recent government regulations have made credit products, especially mortgages, even more opaque with mandated disclosures in obscure legal language produced in small type. As a result, an extra burden has been imposed on lenders while providing no additional benefit to consumers. Elizabeth Warren, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, told...

Jun 29, 2011 3:45PM

Mortgage Rates: BestEx Levee Bursts

Volatility attacks! Home loan borrowing costs rose about as much as they could yesterday without having it negatively impact CURRENT MARKET Best Execution Mortgage Rate quotes. Unfortunately borrowing costs rose further today. And the levee burst.... CURRENT MARKET Best Execution Mortgage Rates have risen. That means if you were being quoted a CURRENT MARKET "Best Execution" note rate yesterday, you will not be able to lock at the same Best Execution note rate today. The abrupt spike in costs can...

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Micro News

3:59 PM:	The Day Ahead: Final Greek Austerity Vote Dominates
3:49 PM:	BestEx Rate Quotes Jump. History Repeating Itself?
3:28 PM:	HUD Issues State Compliance Standards for SAFE Act
2:54 PM:	Obama Challenges Congress on Taxes, Debt Limit
2:25 PM:	FEEDBACK NEEDED: Combining the GFE & TIL
1:44 PM:	Auction Recap: Treasury Pays Up All Week
12:57 PM:	Income Inequality Hurting Recovery: Fed's Raskin
10:32 AM:	IMF Expects Housing, Jobs, Debt to Weigh on U.S. Recovery

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Video News

	A Peek Inside Greece Austerity Bill
	Pending Home Sales Jump 8.2% in May
	BofA to Pay $8.5 Billion in Settlement With Bondholders

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Today's Comments

	"Short-term = 10/20days. Long-term = August/September"
	"What is considered "short term" and "long term", in reference to those who are floating a rate? Thanks!"
	"WOW, DC is the only metropolitan area with consistently increasing values while the rest of the country is bottoming out... why am I not surprised..."

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Today's Q&A

	"Is real estate tax Paid "in advance" or for the past..."
	"I have excellent credit rating/score/history but low income,..."
	"I stopped paying my mortgage for 9 months but it has been a year..."

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Today's Forum Discussions

	"Hello. I am trying to refinance my home with an adjustable rate mortgage and take some cash out. Some lenders tell me this loan is illegal by Texas State..."
	"I'm closing on my house in 2 weeks and i've got a rate locked at 4.875 30 yr fixed through Wells Fargo. No points no origination. Being a frequent..."
	"I'm just really bummed and hopeful someone can explain the mortgage application process to me because I feel like the broker processing my application..."

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