CFPB Proposes Regulations To Limit Mortgage Fees

Law360, New York (May 10, 2012, 1:42 PM EDT) -- The Consumer Financial Protection Bureau on Wednesday said that it planned to bring forward a proposal that could limit transaction fees that banks and mortgage brokers charge consumers when they purchase homes.

The proposed regulation, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, would limit the points and fees that consumers can be charged when taking out a mortgage, and bring greater transparency that will allow them to make more informed choices about which loans they choose, the CFPB said.

"Mortgages today often...
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