Every time a potential homebuyer applies for a mortgage, he or she receives a document known as the Good Faith Estimate, which spells out the fees the buyer is expected to pay when the deal closes. The problem is the document is confusing and there is plenty of room for abuse, if not outright fraud. “The unnecessary complexity of mortgages has actually greatly contributed to our housing crisis,” says Brian Montgomery, assistant secretary for the Department of Housing and Urban Development.

Full story: charlotte.com