OTS on What to Expect When You Apply for a Mortgage Loan

Source: Office of Thrift Supervision

Washington, D.C. — The Office of Thrift Supervision (OTS) issued information today in support of Financial Literacy Month to educate consumers about a new mortgage process required by the Real Estate Settlement Procedures Act and about the impact of a consumer’s credit score on the interest rate of a mortgage loan. What To Expect When You Apply for a Mortgage Loan, issued to commemorate Financial Literacy Month, describes key changes in the mortgage loan process and conveys information about the importance of credit scores in the lending process.