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Nearly half of borrowers don’t shop for mortgages, says CFPB report
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Industry News
Tuesday, January 13, 2015
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The Consumer Financial Protection Bureau (CFPB) released a report finding almost half of consumers don’t shop around for a mortgage when purchasing a home. As part of its Know Before You Owe mortgage initiative, the CFPB is releasing “Owning a Home,” an interactive, online toolkit designed to help consumers as they shop for a mortgage.
“Our study found that many consumers are not shopping for a mortgage,” CFPB Director Richard Cordray said.
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