Thirty years ago, even uneducated Americans got mortgage and we didn't have this problem.  There is no doubt that the loans have become much more complicated.  Thirty years ago, you only had a few documents - note, mortgage, deed, and maybe a few affidavits or disclosures.  Now the paperwork has grown to 20 or 30 documents and a simple 3-page mortgage is now 15 pages.  Why?  Because the banks have included many of those "tricks and traps" that Elizabeth Warren talks about.

Americans could better educate themselves rather than trying to make the process more simple.... but why should they have to.  There is no good reason that the financial industry has made this so complicated, except to screw over those who don't fully understand the process. 

We need simple, straight forward transactions again.... like we had 30 years ago.  Hopefully, the new Bureau can get us closer to that again.

Best,
Robert A. Franco
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