CFPB director Richard Cordray has ruled out any possibility that lenders will be given more time to implement new regulations
Independent mortgage and housing professionals will convene today to discuss some of the most burdensome regulatory and compliance issues
An industry association has argued against the disproportionate impact of the 3% cap on brokers, saying brokers fulfill the function of doing loans banks can't
Industry figures have blasted the 3% points and fees cap, while supporting legislation that would amend the way the cap is calculated
Contradictory rules have made mortgage lending a "minefield" for bankers, threatening the housing recovery, it has been claimed.
In a communication obtained exclusively by MPA, it has been revealed that the CFPB will not budge on QM or the 3% rule, and anticipates broker backlash