New Rules Raising the Cost of Mortgages
Mortgage Professional America, Nov. 18, 2015–Horne, Donald
Though the new disclosures are widely regarded as improvements over the ones they replaced–the traditional good-faith estimates, truth in lending and HUD-1 settlement forms–there have been concerns for months that the reformed process would increase the typical time span between loan application and the final closing. Michael Fratantoni, chief economist for the Mortgage Bankers Association, says regulatory changes have pushed up origination costs.
