Must-See Website for Homebuyers

Gretchen Morgenson

Two entrepreneurs have devised a Web site that helps consumers protect themselves from excessive fees and hidden relationships that can drive up the costs of buying a home. The site is www.FeeDisclosure.com. By giving borrowers a way to compare early on what they will probably pay for a mortgage in commissions, points, interest rates and fees, the founders of FeeDisclosure.com hope to bring transparency to what is not only a mind-numbing process but also the biggest financial commitment a consumer typically makes.... The site's extra information can help borrowers get advance warning of costs and allow them to chisel away at unnecessary or high fees before they are seated around the loan closing table and under the gun. The site also allows consumers to name the fees they are willing to pay and see which service provides may be willing to work with them. Now, [consumers] can trust and verify.