FTC consumer mortgage report

Interesting FTC report on consumer loans here.

From the executive summary:

**Current mortgage cost disclosures failed to convey key mortgage costs to many consumers.

**Prototype disclosures developed for the study significantly improved consumer recognition of mortgage costs, demonstrating that better disclosures are feasible.

**Both prime and subprime borrowers failed to understand key loan terms when viewing the current disclosures, and both benefitted from improved disclosures.

**Improved disclosures provided the greatest benefit for more complex loans, where both prime and subprime borrowers had the most difficulty understanding loan terms.