If you've ever closed on a mortgage, you know that the only thing that's fun about the whole process is the end, when you are handed the keys to your new place.
Certain surprises -- such as last-minute document requests from the lender or discrepancies in numbers -- can turn closing day into a nightmare for some buyers. I've been there.
Welcome to my nightmare
When I bought my house a few years ago, the lender called me three hours before closing, while I was in the middle of packing, to demand additional documents. My loan officer told me that if the underwriting department didn't review and approve the "missing documents" right away, my loan wouldn't close that day, which would have caused my deal to fall through.
To make things more exciting, I didn't have Internet connection that day. I was frantic and furious, but I knew that if I wanted that house, I had to comply with the lender's request quickly. I drove to the nearest coffee shop and emailed the documents to the lender. Two hours and some tears later, my loan file was finally good to go, and I closed.
Poking for pain points
"Why does closing day have to be so stressful?" buyers often ask me. I don't know. But the Consumer Financial Protection Bureau will try to find the answer.
The watchdog agency has asked consumers to share their mortgage-closing experiences with the CFPB. Specifically, the CFPB wants to hear about "pain points" associated with mortgage closing, and for suggestions on how those problems might be solved through technology.
In other words...
The agency says it wants to understand what consumers find most problematic about closing to identify ways to make the closing process more streamlined and efficient.
How to report your painful experience
You have until Feb. 7 to share your nightmarish closing with the CFPB. You can leave your comment here or mail it to: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1700 G St. N.W., Washington, D.C. 20552.
Follow me on Twitter @Polyanad.
Get real-time rate quotes with Bankrate's Mortgage app.