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MBA: Education Key To Homeownership.
WASHINGTON -- Aiming to teach first-time homebuyers about the mortgage process and help owners preserve long-term homeownership, the Mortgage Bankers Association has enhanced its website with two online financial education tools: "Simple Facts" and "Simple Calculator."
MBA has been very active in the area of financial education, working to make the home buying process as transparent as possible, and takes pride in adding to its robust list of offerings The Simple Facts and The Simple Calculator," stated in a company release MBA Chairman John M. Robbins, CMB.
MBA's bilingual consumer education website HomeLoanLearningCenter.com now includes an easy-to-use guide and calculator created to explain in detail the mortgage process. Its two main tools are "The Simple Facts," designed to help prospective homebuyers identify what type of loan best fits their personal situation, and "The Simple Calculator," which estimates monthly payments for each product during the life of the mortgage, and compares payments under different types of loans. Besides customers the mortgage industry is applauding the new financial education resource, including Fannie Mae, an advocate of "clear, concise disclosure of mortgage terms to protect borrowers," ...
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Source: HighBeam Research, MBA: Education Key To Homeownership.