I work in the mortgage industry..and the new forms aren't better. Only the gov't could "simplify" a form by making it 3 pages instead of 1. There are still ways for dishonest loan officers to cheat customers if they want to. To avoid getting ripped off: deal with a company that has a long history of keeping customers happy (if all they have to do is sell a couple desks and computers & they're out of busines...avoid them), deal with someone you can look in the eye if you have trouble before and after the closing), and if they want a lot of money up front before even pulling a credit report...avoid them. People ask me if rates are about to go up or down...I always say "if you get a loan officer to actually answer that question...don't trust them further than you can throw them, because they are either dishonest or stupid"....no one knows what rates are going to do. A good loan officer will also spend time to ensure you understand everything, and if you have bad credit...they'll try to educate you about fixing errors (for free using annualcreditreport.com).