Editor: David Reiss
Brooklyn Law School

August 7, 2015

Friday’s Government Reports

By Serenna McCloud

  • The Consumer Financial Protection Bureau’s (CFPB)  “Leveraging technology to empower mortgage consumers at closing” found that consumers would benefit from electronic closings. Results indicate that those consumers who completed a closing on an electronic platform had a superior experience with regard to understanding, efficiency, and feeling empowered compared to borrowers who used paper forms.
  • The Federal Housing Finance Agency (FHFA) released its monthly interest rate survey for June 2015.  The average interest rate was up 10 basis points from 3.75 to 3.85% from may to June. Many lenders use this rate to reset the interest rate on some ARMs.
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