Proposed changes would revamp the treatment of “Indian areas” and rural agricultural workers, along with altering the method of calculating area median income.
The CFPB said certain questions concerning barrier analysis, special emphasis programs and workforce demographics were contrary to President Trump’s executive orders.
There will be detrimental consequences for borrowers and mortgage investors if the CFPB goes through with changes suggested by President Trump, according to a recent analysis.
A new executive order from President Trump aimed at increasing access to mortgage credit calls for changes to several of the CFPB’s mortgage rules and regulations.
Although neither housing EO released last week by President Trump mentions them by name, it’s clear Fannie Mae and Freddie Mac will have a hand in implementing the proposed policy changes.
A new executive order directs federal agencies to consider changing several major mortgage regulations in part to increase mortgage lending by smaller banks. Consumer advocates raised alarms.