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FDIC encourages consumer shopping in latest newsletter
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Regulatory Updates
Wednesday, May 28, 2014
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In its latest edition of Consumer News, the Federal Deposit Insurance Corp. (FDIC) discussed ways consumers can save money on a mortgage. The advice ranged from comparison shopping for your mortgage to whether or not it is a good decision to refinance an existing mortgage. In addition, it encouraged prospective homeowners to understand which third-party settlement services they can shop for.
In the article, ’Saving money on a mortgage, from start to finish,’ the FDIC said that while lenders require borrowers to purchase certain services, such as appraisals, form specific companies, borrowers are allowed to shop for other third-party settlement services.
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