Know Before You Owe: Crowdsourcing Mortgage Forms

A session at IA Summit 2013

Friday 5th April, 2013

2:10pm to 2:30pm (EST)

Applying for a mortgage is confusing and stressful; this makes it harder to make good decisions. After the 2008 financial crisis, the Consumer Financial Protection Bureau needed to do something about it.

Our goal was to simplify the disclosure forms so lenders could better explain their products and new homeowners would understand them. But we couldn’t interview all of America to understand what these stakeholders needed. Instead, we combined some interviews with an online tool that collected structured critique on the draft disclosures.

We learned lessons about complying with inconvenient but well-meaning laws, making crowdsourcing useful, and convincing lawyers that this was a good idea. In the end, we had a stronger design that was more accepted by the mortgage industry.

These lessons can teach us all how to respond to “You can’t just put these online. You don’t know what people will say!” with “That’s the point.”

About the speaker

This person is speaking at this event.
John Yuda

Redesigning the government. bio from Twitter

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14 attendees

  • Amy (Jimenez) Marquez
  • Ashley (Pearson) Borelli
  • Beth Bacon
  • Carrianne Tuckley
  • Henken
  • Jessica Ivins
  • Kelani Nichole
  • Yulia Wentling
  • Patrick Lowery
  • Rebecca (Jankowski) Pugliese
  • Tamour Khan
  • Jamie Thomson
  • Stephanie Schuhmacher
  • John Yuda

5 trackers

  • Brian Price
  • Jaimi J.J. Kercher
  • Kaleem
  • Kevin M. Hoffman
  • Thomas Vander Wal

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Time 2:10pm2:30pm EST

Date Fri 5th April 2013


Harborside Ballroom B, Baltimore Marriott Waterfront

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