In the aftermath of the 2008 financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) was put into law. Title X of the Dodd-Frank Act (aka: “Consumer Financial Protection Act of 2010”), created the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) as an independent agency within the Board of Governors of the Federal Reserve System (“Federal Reserve”).
The CFPB regulates the offering and provision of consumer financial products and services under federal consumer financial laws . The CFPB is a U.S. government agency that is tasked to make sure banks, lenders, and other financial companies treat borrowers fairly. They are formed with the intent to protect the consumer and regulate banks/lenders/financial companies.
After spending Billions of taxpayer money, CFPB came up with a format for Loan Estimates that would be easier for borrowers to understand the cost and shop around. CFPB states on their website: “Get quotes from three or more lenders so you can see how they compare. Rates often change from when you first talk to a lender and when you submit your mortgage application, so don’t make a final decision before comparing official Loan Estimates” 
This is where we decided to step in and create a product and service that put the consumer at the center. The Confer app is the only tool available today that uses patent-pending technology to compare two or more official mortgage estimates to find the most advantageous mortgage rate for a borrower, whether they’re buying or refinancing their home.
Confer’s founding team has made a significant contribution to the mortgage industry over the last two decades and won various accolades. We are now putting our combined experience to deliver a consumer centric product that enables them to make informed decisions.
With Confer, it is time to democratize finance.