MBA Launches New Consumer Tools

WASHINGTON, D.C. – October 6, 2015 – (RealEstateRama) — Today, the Mortgage Bankers Association (MBA) launched new consumer tools on MBA.org designed to assist consumers during the home buying process. These tools will help consumers navigate the financing of a home so every potential borrower feels prepared from beginning to end.

“The home buying process continues to change, and MBA remains committed to helping consumers understand the various elements that go into purchasing a home,” said David Stevens, President and CEO. “MBA realizes how overwhelming it can be, so we have created five fact sheets to help consumers navigate the home buying process.”   The home buying tools section is made up of five elements, each with its own document:

  1. Prepare for the Process – Educating and readying consumers for the challenges in the home buying and financing process.
  2. Evaluate Your Credit – Providing information and insights on consumer credit ratings.
  3. Shop for a Mortgage – Understanding the costs in a mortgage, including information on the new Know Before You Owe mortgage rules and forms that went into effect on October 3, 2015.
  4. Get the Facts on Closing – Helping consumers understand the closing process, and the types of paperwork and documents they may see at the closing table.
  5. Plan for the Unexpected – Helping consumers budget for their new home, and prepare for surprises and unknowns.

All of these resources can be viewed and downloaded here.

CONTACT
Rob Van Raaphorst

(202) 557- 2799

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MBA

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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