July 19, 2012
In the Media
Help for the Perplexed Home Buyer
Op-Ed
The New York Times
July 18, 2012
Excerpt:
There’s no way around it: mortgage transactions are complex and
involve a tremendous amount of information.
But life is filled with complexities, and we have a way to deal
with them: hire an expert. Indeed, consumers who cannot or will not
understand mortgage disclosures should be required to hire mortgage
counselors. (A proposed companion rule from the bureau does require
counseling, but for only a small number of borrowers, far fewer
than need it.)