" [W]e have proposed smarter rules
that will help fix the broken mortgage
market with common-sense solutions.
We are writing rules that simplify
mortgage disclosure forms and rules
that make sure consumers do not
receive mortgages that they do not
understand or cannot afford. Our rules
will also bring greater transparency
and accountability to mortgage
servicing."
—Richard Cordray, director of the Consumer Financial
Protection Bureau, in testimony before the Senate
Banking Committee on September 13, 2012
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