US Starts Wide Review of Title, Closing Fees for Mortgages
- Consumer Financial Protection Bureau seeks comment on costs
- CFPB’s move Thursday lays groundwork for new potential rules
Homes in Pinole, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The Consumer Financial Protection Bureau took an initial step toward tightening rules for fees charged in the home-buying process.
The US consumer financial watchdog on Thursday sought comment on fees that are “increasing mortgage closing costs.” The CFPB said it wants to understand why costs are increasing and who benefits from them. The agency mentioned lender title insurance as a specific area of concern.