The Mortgage Bankers Association took Treasury Secretary Janet Yellen’s remarks as an opportunity to reiterate industry concerns about the Basel III endgame proposal.
Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue.
The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.
Counterintuitively, the bi-merge will increase the number of credit pulls necessary to complete the average mortgage loan application. Consumers will ultimately pay for those extra pulls.
Banks, nonbanks and consumer advocates have major concerns about a proposal to adjust capital requirements for large banks. The proposal would touch on mortgage lending, MSRs and warehouse lending.