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Volume 28 - Number 4

February 13, 2017

Trump Goes After Dodd-Frank Regulations, CFPB Impact Unclear

President Donald Trump has put the Dodd-Frank Act in his crosshairs, issuing an executive order earlier this month that directs the Treasury secretary to work with the members of the Financial Stability Oversight Council to review the current regulatory regime and evaluate it according to a handful of “core principles” Trump believes should shape the regulation of the U.S. financial system. The principles include fostering informed consumer choices, preventing bailouts, promoting economic growth, tailoring regulations and ensuring regulatory accountability. Industry observers and Republicans and Democrats alike on Capitol Hill saw the order as the beginning of an attack on Dodd-Frank and perhaps even a shot across the bow of the CFPB, with negative implications for the agency’s mortgage lending and ...

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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.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%