US Wants More Competition on Mortgage Closing Costs

The U.S. Consumer Financial Protection Bureau is looking into the closing costs levied by mortgage lenders, with an eye to increasing competition and decreasing costs for borrowers, the White House said Tuesday.

White House National Economic Advisor Lael Brainard made the comments in a speech that was scheduled to be delivered at the Urban Institute, a think tank. She said the bureau would pursue rule making and guidance on the topic.