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by CareyBot

In Part 4, of a six-part series, Inman News columnist Jack Guttentag states as follows: "In sum, regardless of why borrowers refinance, the question of whether they receive a net benefit from it is for borrowers alone to answer. Loan providers do not have the information needed to second-guess them." He goes on to say that: "on the other hand, borrowers often make their decisions on the basis of incomplete and sometimes misleading information. Instead of requiring lenders to assume responsibility for borrowers' decisions, let's make them responsible for providing borrowers with the information they need to make better decisions." The Ethical Lending Foundation supports Guttentag's theoretical position that holds residential lending professionals (all retail mortgage salespersons, no mat...