CFPB Launches Owning a Home Tool

January 13, 2015

The Consumer Financial Protection Bureau launched tools aimed at helping consumers make smarter decisions when obtaining a mortgage. Called “Owning a Home,” available tools as of now help consumers:

“Our new set of tools also offers an understanding of how lower rates translate into dollars saved,” CFPB Director Richard Cordray said in a speech Tuesday. “It can be hard to understand what an extra quarter or half percent of interest amounts to in actual dollars. So our tool makes it easy to compare different interest rates and to see how much they will cost.”

The CFPB said it plans to add other tools over the next year to help give consumers a comprehensive and comprehensible picture of the entire home buying process.

ALTA is in the process of redesigning and updating its consumer website, www.homeclosing101.org, ahead of the Aug. 1, 2015, implementation of the CFPB’s integrated mortgage disclosures.


Contact ALTA at 202-296-3671 or communications@alta.org.

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