The slew of mortgage rules coming down the pike tops the list for mortgage lender angst. Curiously it's not just lenders who are concerned.
"Never in my life would I believe I would have the exact same position as banks and mortgage lenders. It's a very unusual turn of events," says David Berenbaum of the National Community Reinvestment Coalition, speaking of a proposed down payment requirement. "But we do not want to see a restriction of credit."
"If anything is certain about the slew of regulations, it's that credit tightening and loosening both come at a hefty price," writes American Banker’s Kate Berry in a piece about the tension between new standards and fair lending.
One lawyer quoted in the piece describes the combination of pressure around credit as a "Goldilocks issue" for mortgage lenders. “When is it just right?"
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