Know Before You Owe: Weigh in now!

By CFPB Mortgage Disclosure Team – AUG 01, 2011

In May, we introduced the Know Before You Owe project to give consumers, lenders, and other industry participants a way to help us make mortgage shopping easier. Since then, you’ve responded with more than 18,000 comments, and we’ve listened.

Today, we’re asking for your input once again. Just like last time, here are a few questions we’d like you to keep in mind as you review:

Would this form help consumers understand the closing costs associated with their loans?
Could lenders and brokers clearly and easily explain the form to their customers?
What would you like to see improved on the form? Is there some way to make things a little bit clearer?

We will consider the information submitted through our website as we analyze the information we receive in the in-depth interviews to further revise the prototypes. This round is open for feedback until Monday, August 8th at 7pm Eastern time. You can participate any time between now and then, but the sooner you tell us the earlier we’ll be able to start thinking about how to improve on these forms for the next round. Send us your feedback today!