CHLA Asks CFPB to Protect Consumers from Harmful “Dual Compensation” Arrangements in Homebuying Process
The Community Home Lenders of America (CHLA) today sent a letter to the Consumer Financial Protection Bureau, asking the agency to adopt basic rules to protect homebuyers from situations where one individual may control both the brokerage and mortgage origination functions. Such control by one individual in a home purchase transaction could lead to conflicts that harm the financial interests of the consumer.