Home buying has seen a major transformation starting on October 3rd, thanks to a new initiative by the Consumer Financial Protection Bureau (CFPB) called “Know Before You Owe.” This approach aims to streamline the mortgage application process for homebuyers. The change comes as a response to the Dodd-Frank Act, a piece of federal financial reform legislation that pushed the CFPB to improve home buying procedures after the 2008 housing crisis. Since the agency’s inception, “Know Before You Owe” has been a key focus.