New consumer protection advisor tackles mortgage crisis first

Warren said she wants to simplify those complicated mortgage disclosure forms that come with every home loan.

She said many home owners do not understand the legal jargon and fine print.

As a result, she says many consumers took out loans they could not afford, and millions lost their homes to foreclosure because of it.

Warren said she will move quickly to simplify mortgage disclosure documents and create one single, easy-to-understand form.

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