Consumer Bureau Releases Simpler Mortgage Forms for Testing
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Americans applying for a mortgage would get a simplified, two-page “shopping sheet” from lenders under a proposal from the Consumer Financial Protection Bureau.
The agency today released two prototypes for the form, which include information such as interest rates, monthly payments and closing costs in bold type and an uncluttered format. The forms provide key figures on the first page, while delving into more detail on the second.