Why Your Mortgage Merits a Second Opinion
Advice on the Good Faith Estimate, (GFE) a federally mandated consumer disclosure:
“Only you can shop for the best loan for you. Compare this GFE with other loan offers, so you can find the best loan. Use the shopping chart on page 3 to compare all the offers you receive.”
Perhaps it’ the prospect of having to make a second application or perhaps its fear, regardless, the Consumer Finance Protection Bureau (CFPB) warns “ borrowers who simply take the first loan without much shopping will likely pay more“.