The new regulation require that a potential borrower needs to understand all costs involved.
All costs must be disclosed to potential borrower.

There are three basic categories of charges and fees in settlement or closing transactions:

• Charges for establishing and transferring ownership. These include title search, title insurance, related legal fees, and fees for conducting the settlement.
• Amounts paid to state and local governments. These include city, county and state transfer taxes, recordation fees, and prepaid property taxes.
• Costs of getting a mortgage. These include survey, appraisals, credit checks, loan documentation fees, notary charges, loan origination, commitment and processing fees, hazard insurance, interest prepayments, and lender's inspection fees.