George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Randy if the CFPB thinks it is important to quote the APR when quoting interest rates then they need to do the same, no exceptions.

By the way Ken Harney is an AR member.

Jan 25, 2015 07:29 AM
Randy Kirsch
Right Trac Financial Group, Inc., NMLS# 2709 - Manchester, CT
(NMLS# 1012303) Your Dedicated Mortgage Consultant

I did not know that Mr. Harney is an AR member George Souto - he should post some of his articles for the community.  And, CFPB should not take advantage of its position and omit the APR as Ken's articlepoints out as the rates quoted oby Rate Checker can be quite misleading based on the information that CFPB provided to Ken for his article.  It is far from the simple interest rate situation that they might haver consumers believe.

Thanks for sharing George.

Jan 25, 2015 08:13 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Randy. Personally I could care less about the CFPB rate checker. If the only reason someone is calling is for rate, I will explain to them, there will always be someone that is willing to work for nothing.

Make it a great week!

Jan 25, 2015 07:34 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Randy.  Anything created by Elizabeth Warren has to skewed to the far left.

Jan 25, 2015 07:41 PM
Randy Kirsch
Right Trac Financial Group, Inc., NMLS# 2709 - Manchester, CT
(NMLS# 1012303) Your Dedicated Mortgage Consultant

It really is the principle of the thing Joe Petrowsky that CFPB does not comply with its own reguylations, but would be all over any of the private lenders that put up such a comparison without making full disclosure.  Yes, you can make quotes and be undercut, but that is just not the poiunt of this situation.

Thanks for sharing, Joe.

Jan 26, 2015 07:16 AM
Randy Kirsch
Right Trac Financial Group, Inc., NMLS# 2709 - Manchester, CT
(NMLS# 1012303) Your Dedicated Mortgage Consultant

She was getting beat up quite a biot not that long ago Conrad Allen - but you are absolutely correct.

Thanks for sharing.

Jan 26, 2015 07:17 AM