|
The agency also might force lenders to offer an option without discount points, so that consumers can see clearly how the fee affects their monthly payments. It also would allow easier comparisons between loans offered by different companies. The CFPB is overhauling mortgage rules as part of the financial overhaul law passed in 2010. The agency was created under a separate section of that law. Any proposed rule will be reviewed next by the agency's Small Business Review Panel. After the panel weighs in on how the rule would affect small businesses, the agency will publish a formal proposal to enact the rule later this summer. The rule is expected to be finalized in January.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor