“MBA welcomes the opportunity to respond to the CFPB’s RFI and will provide an in-depth overview on mortgage closing costs, highlighting their tangible benefits to borrowers and how they protect taxpayers. We have been vocal since last year about the sharply rising costs of credit reports and other credit reporting products and are pleased the RFI provides an opportunity to share our concerns about the lack of transparency into what’s driving these pricing changes.” --MBA statement in response to the Consumer Financial Protection Bureau’s request for information on mortgage closing costs

Pending home sales fell 7.7% in April, the National Association of Realtors reported yesterday.