Inaccurate tax data a source of homeowner frustration

confused business working on taxes
confused business working on taxes

By Jann Swanson | Mortgage News Daily

The CFPB’s 2015 Annual Consumer Mortgage Experience report dealt with the major sources of dissatisfaction reported by homeowners with the origination, closing, and servicing processes of their mortgages. It found that escrow amount-related issues including inaccuracies of annual tax estimates and the settlement funds required at closing were among the more prevalent areas of complaint;

Almost 50 percent of all borrowers told CFPB they were only “somewhat familiar” with the amounts required at closing, a percentage that was even higher among first-time homebuyers. CoreLogic’s Dominique Lalisse says this reinforces the need for homebuyers to have clear disclosure of housing costs in the loan estimate.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories