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Mortgage Bankers Association Launches New Homebuying Resource

WASHINGTON - The Mortgage Bankers Association introduced a new consumer Web site - Home Loan Learning Center (www.homeloanlearningcenter.com) that provides consumers with comprehensive information in an easy format on all aspects of homebuying and homeownership. Topics on the site include understanding the basics of homebuying, such as the importance of...

By Staff Writer | Updated on July 13, 2004

WASHINGTON – The Mortgage Bankers Association introduced a new consumer Web site – Home Loan Learning Center (www.homeloanlearningcenter.com) that provides consumers with comprehensive information in an easy format on all aspects of homebuying and homeownership. Topics on the site include understanding the basics of homebuying, such as the importance of consumers’ credit record and if needed, improving it before they apply for a mortgage loan; finding the right home; finding a mortgage lender; identifying which loan product best fits their financial situation, and “shopping a loan” with various lenders to ensure the consumer gets the best mortgage. MBA President/CEO Jonathan Kempner said the site will give people interested in becoming homeowners the knowledge they need to more confidently navigate through the mortgage transaction process. A national survey of 600 adults conducted by the MBA in May showed more than 50% of consumers planning to buy a home want more information on the homebuying process, and 95% feel it’s important to have access to information that is easy to understand.

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