Small nonbank mortgage lender groups and other industry representatives once again took the opportunity provided by sympathetic Republicans in Congress to express their anxiety about being able to comply with the pending integrated disclosure rule from the Consumer Financial Protection Bureau when it kicks in Aug. 1, 2015. They echoed a call made late last month by Reps. Blaine Luetkemeyer, R-MO, and Randy Neugebauer, R-TX, for the CFPB to institute a ...
The general fear is that higher-than-needed capital standards will cause mortgage insurers to hold unnecessary amounts of assets that will force the industry to raise premiums.
“Fannie and Freddie have made tremendous strides to provide clarity in the system and create innovations,” said Peter Carroll, executive vice president for mortgage policy and counter party relations at Quicken Loans.