ARTICLE
12 August 2015

CFPB Study Finds Electronic Mortgage Closings Can Benefit Consumers

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On August 4, the CFPB published a report on its "Know Before You Owe" eClosing project which found that borrowers can benefit from electronic closings when navigating the mortgage closing process.
United States Finance and Banking

On August 4, the CFPB published a report on its "Know Before You Owe" eClosing project which found that borrowers can benefit from electronic closings when navigating the mortgage closing process.  Specifically, the results of the pilot indicate that those who closed their mortgage using an electronic platform are generally better off on measures of understanding, efficiency, and feeling empowered than borrowers who used just paper forms.  Release Report.

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