The Consumer Financial Protection Bureau has released new educational materials for borrowers
The Consumer Financial Protection Bureau has released additional consumer resources to educate borrowers about its new mortgage regulations, including sample lenders consumers can send to their loan servicers.
“Taking out a mortgage to buy a home is one of the biggest decisions a consumer can make,” said CFPB Director Richard Cordray. “We want to make sure that people are aware of their new protections so they have the knowledge to make sound decisions about their financial futures.”
New materials include:
“Taking out a mortgage to buy a home is one of the biggest decisions a consumer can make,” said CFPB Director Richard Cordray. “We want to make sure that people are aware of their new protections so they have the knowledge to make sound decisions about their financial futures.”
New materials include:
- Sample letters requesting that a servicer correct errors and requesting information from a servicer.
- Mortgage tips on the rights of home buyers and homeowners under the new rules.
- Answers to mortgage-related questions.
- Consumer tools to find local housing counseling agencies or submit complaints.
- Fact sheets on the new rules.
