New Mortgage Forms

I don’t get the movement to educate the consumer even more. In my experience, the consumer by and large cares about the monthly payment. And generally they care less than the bank. If the bank doesn’t care enough to make smart loans, making the payment amount easier to read won’t all the sudden make consumers decide they don’t want the loan.

My clients who are sophisticated enough to read the docs already know what they’re looking for and while the simplification will be nice, won’t change their decision.

Long and short, another tweak isn’t going to save people from themselves.