Will new mortgage rules simply the process for borrowers?

The Consumer Financial Protection Bureau aims to use new rules to take the mortgage loan process back in time prior to the housing crisis.  With new rules designed to simplify the mortgage process and make it more transparent, they hope to create a safer mortgage market to prevent mistakes that lead to the housing and mortgage crisis.  CFPB’s director said that these rules would use “basic building blocks” to return to responsible lending and customer service.

To read more about the new mortgage rules and how they apply to you see, “New mortgage rules aim to clarify, simplify.”