February 25, 2015

Consumer Financial Protection Bureau Launches Homeownership Website

The federal Consumer Financial Protection Bureau (CFPB) recently launched a website for prospective homeowners.  CFPB was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to promote financial education and enforce federal consumer financial protection laws.

While CFPB is still adding content to its website, it already:
  • explains and compares the most common mortgage types;
  • provides an interactive tool for checking local interest rates;
  • explains closing forms and provides a closing checklist; and
  • links to other information, such as where one can find a HUD-approved housing counselor or file a mortgage complaint.
Example of information provided by CFPB rate checker