Ernst’s CEO Speaks Out on Borrower-Related Solutions

The president and CEO of ""Ernst Publishing Company"":http://www.ernst.cc/, a provider of closing cost data for the real estate and home finance industries, is weighing in on critical challenges - and potential solutions - in the current mortgage marketplace.

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Participating in The ChangeMaker, a new podcast series, Ernst's leader, Gregory E. Teal, shed light on initiatives and strategies that have the potential to positively impact the future of housing.

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Teal focused much of his commentary on the mortgage industry's key asset - borrowers. Asked to elaborate on factors that continue to inhibit lending, Teal explained the significance of improving the consumer experience and ""winning back"" borrowers' trust.

""The industry is trying to win back the trust of the consumer. As a company, we've tried to re-establish that trust by helping our clients provide extremely accurate information to the consumer in an easily understood format. Having that information as early as their first conversation about their real estate transaction is key,"" Teal noted.

Explaining the steps that Ernst has taken to facilitate enhanced borrower-related strategies, Teal added, ""Our mobile application is enabling (our clients) to take the information some of which will be included on the HUD-1 and the GFE and present it to both the buyer and the seller very early in the process, even prior to taking the mortgage application.

""It brings us back to that trust, because the industry needs to be as transparent as possible, as early as possible, so there are no surprises; because unintended surprises at the closing table are what has led to distrust,"" concluded Teal.