When RESPA legislation was passed to protect homeowners from predatory lending practices, the banking industry intensely lobbied to be exempt from mandatory disclosure laws, and they succeeded. Because of this lobby, your bank is not required to disclose to you what their profit margin is on your new mortgage loan. Banks in the United States [...]
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My name is Robert Regehr and I’m a personal finance blogger with a chip on my shoulder for banks and mortgage brokers that take advantage of my friends and neighbors.
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