How to find fairly priced mortgages

Tool lets consumers compare rates, closing costs by ZIP code
Published on May 7, 2010

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You've got to like an organization that has the words "fair mortgage" in it. And you especially have to appreciate them when they introduce a handy little software program that lets you know you are getting a fair price when you apply for a mortgage.

The Fair Mortgage Collaborative is a nonprofit organization based in New York that attempts to accomplish three important home finance goals: educate consumers about predatory lending practices; help consumers avoid predatory lenders and brokers; and enable consumers to obtain safe, fairly priced loans.

Working with a group of other nonprofits such as The Ford Foundation, Neighborhood Housing Services of America, and The Center for Responsible Lending, the Fair Mortgage Collaborative created the Fair and Safe Standar