Regulators seek help in identifying mortgage ‘pain points’ and tech solutions

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The Consumer Financial Protection Bureau is seeking through Feb. 7 public comments that regulators say will help them understand “pain points” associated with mortgage closing and how they might be addressed by market innovations and technology.

In this new phase of its “Know Before You Owe” initiative, the bureau said it’s seeking “to encourage the development of a more streamlined, efficient and educational closing process as the mortgage industry increases its usage of technology, electronic signatures and paperless processes.” Source: regulations.gov.