ABSTRACT
Consumers have an interest in fostering what we call known freedom (consumers will be said to have known freedom about mortgages whenever they have sufficiently detailed and justified information about relevant mortgage options). Consumers have an interest in being able to buy complex financial products. (Vulnerable consumers in particular may need complex products to deal with life’s adversities.) These claims are meant to establish that complexity must be increased in certain cases. We then consider a case that has received significant attention in the finance literature: the Continuous Workout Mortgage. Finally, we address the issue of how the desired increase in understanding of a complex product might be brought about, considering the regulation of information, epistemic virtues, and interlucent communication.
