CFPB Launches Inquiry Into Rising Mortgage Closing Costs and Junk Fees
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) has initiated a public inquiry into the mounting junk fees that are elevating mortgage closing costs. The bureau aims to uncover why these costs are increasing, who benefits from them, and how both borrower and lender expenses can be reduced. From 2021 to 2023, median total