Junk fees are driving up closing costs – and the Consumer Financial Protection Bureau wants to hear from you

Families who manage to save up for a down payment and get approved for a mortgage often get an unwelcome surprise: closing costs that all too often are full of junk fees.

March 12, 2024

Source: CFPB News Bulletin

In 2022, the median amount paid by borrowers was nearly $6,000 in these costs and fees. That’s a substantial upfront cost on what is already a major financial undertaking. It also appears that some closing costs are high and increasing because there is little competition.

The CFPB is working to ensure that consumers can navigate the closing process more easily, shop around, and save money. If you have a problem with your mortgage or closing costs and need a response from the company, we want to hear from you.

Learn more

Article posted by:

Levi Gwaltney

Levi Gwaltney is the Editor In Chief of Las Cruces Digest. The Editor makes editorial and posting decisions regarding content published on this site. In most cases, the Editor makes little if any contribution to content published, and takes no credit for the content of republished posts. If available, the source or author of posts is provided at the top of the article.

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