MBA's Courson applauds Bank of America's "clarity commitment" MortgagePress.comBank of America, Mortgage Bankers Association, John Courson, Clarity Commitment
John A. Courson, President and CEO of the Mortgage Bankers
Association (MBA) has issued the following statement applauding
Bank of America Home Loans's "Clarity Commitment," a new one page
summary of loan information, terms and closing costs that the
company will give borrowers both at loan application and at loan
"MBA applauds this initiative to help ensure that all borrowers
clearly understand the loan they are getting and the fees they are
paying. We have long believed that an educated, informed borrower
is far less likely to end up in a loan they do not understand and
cannot afford. Efforts like these will help restore faith and
rebuild confidence in the housing and mortgage markets."
For more information, visit www.mortgagebankers.org.