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October 13, 2014

A Sign of Hope for Regulatory Relief: CFPB Proposes Program for Lender ‘No-Action’ Letters

By Brandon Ivey

However, the CFPB official said the no-action letters would not give a requesting entity an exemption from complying with any statutory or regulatory rules.

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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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