Industry NewsMortgage

Proposed mortgage rules would preserve points and fees

Regulators: Consumers should have option to buy down interest rates
Published on Aug 20, 2012 | Updated on Apr 23, 2013

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by CareyBot

Mortgage lenders would have to give consumers the option of a no-point, no-fee loan under proposed rules put forward by the Consumer Financial Protection Bureau with the intention of helping consumers understand mortgage costs and comparison shop.

The proposed rules would require that lenders provide an interest-rate reduction when consumers elect to pay upfront points or fees.

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