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April 8, 2014

Rep. Hensarling Says Mortgage Banker Forced Out of Business Because of Compliance Costs and Complexity

By Thomas Ressler

Committee Chairman Jeb Hensarling, R-TX, cited a letter from a mortgage banking constituent who said his company is being forced out of the residential lending business because of the cost and complexity of regulatory compliance.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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