This past year has seen many new federal regulations which have changed many mortgage loan rules and disclosures. While the good intent of these disclosures is to show what a given interest rate and term will actually cost borrowers, borrowers are having difficulty understanding these new disclosures. Simplifying mortgage disclosures is an issue that the Treasury Department is currently addressing. Meanwhile, borrowers should ask as many questions as need be to try to understand their home loan disclosures.
