Editorial: CFPB makes mortgage process worse, not better

02/2/2012 | Investor's Business Daily

President Barack Obama's promotion of a simpler mortgage form doesn't reflect the 2,300-page bill he signed that authorizes the Consumer Financial Protection Bureau to "do things that only complicate the mortgage process," such as conducting studies on the FICO credit-scoring system, this editorial says. "The president may have simplified the mortgage form. But he built a massive and byzantine bureaucracy to do it," the editorial states.

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