Consumers deserve to know what they’re paying for, and the nation’s largest professional association of real estate appraisers is calling on the federal Consumer Financial Protection Bureau to require more transparency on home buyers’ forms.

The Appraisal Institute, in a joint letter with the American Society of Farm Managers and Rural Appraisers, asked the CFPB on Nov. 16 to separate appraisal fees from administration and processing fees on the settlement forms that consumers receive when purchasing a home. (Created by Congress, the CFPB oversees consumer disclosure laws and is authorized to develop new forms to inform consumers about charges assessed in processing mortgage loans.) [Read more…]