40% of Borrowers 'Confused' by Data

A Mortgage Bankers Association survey released Tuesday found that four out of 10 homebuyers say they get too much information during the real estate settlement process.

The confused borrowers said it would help if lenders simplified the process, demanded less paperwork, and explained all fees. Borrowers also suggested that documents be written in "plain English."

Sixty percent of the 500 borrowers surveyed by Yankelovich Partners expressed a high degree of satisfaction with the loan process.

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