“Mortgage Brokers and Banks Do Not Have a Level Playing Field”

Ken Harney, syndicated columnist for the Washington Post, has done an outstanding job explaining a major difference between these two worlds.

The CFPB (Consumer Financial Protection Bureau) is in the process of putting together new regulations, as a result of the Dodd-Frank Act, that will create an unfair advantage when it comes to disclosing fees.

We have disclosed ALL of our fees for years, nothing is going to change as far as these disclosures, but Banks, Credit Unions and Mortgage Bankers do not have to disclose their fees. This is where the public gets screwed.

Kenneth R. Harney

Oct 11, 2013

WASHINGTON — The government shutdown and the debt limit have dominated the headlines, but a behind-the-scenes fight over federal mortgage policy has been brewing and it could affect your choices the next time you apply for a home loan.

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