Buyers Promised Simplified Mortgage Paperwork
LINDA WERTHEIMER, Host:
NPR's Scott Horsley reports.
SCOTT HORSLEY: Elizabeth Warren says in order to shop for the best home loan, consumers need better information. In her first public action since being tapped by President Obama last week to set up the new Consumer Financial Protection Bureau, Warren assembled a group of lenders and consumer advocates to help cut through the fine print. They were specifically looking to combine two mortgage forms now required by the government. But Warren's goal is broader than that.
ELIZABETH WARREN: It's about what information consumers need, and when they need it, to make the best possible financial decisions. And when we stay focused on that, I think we get to a place that works for American families, that works for the lending industry, and ultimately that works for the American economy.
HORSLEY: Scott Horsley, NPR News, Washington.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.