There is no doubt that nonbank mortgage lenders are as heavily regulated as banks when it comes to consumer protection, some industry executives say, but the level of scrutiny for safety and soundness may be higher for depository institutions. The Community Home Lenders Association asserts that nonbanks are subject to more consumer protections than banks and have virtually identical regulatory burdens imposed by product regulations such as those for the FHA, VA, Ginnie Mae, Fannie Mae and Freddie Mac. “While nonbanks are heavily regulated at the state level, they are...