Donald Lampe, a partner in Morrison & Foerster, said: “the basic design of the no-action letter process was not very effective from day one,” because of excessive burdens it imposed on applicants.
Before going into government service, Bright co-authored a housing-finance reform paper with former Federal Housing Finance Agency Acting Director Ed DeMarco…
The bill would make it easier for loan officers to continue working if they leave a bank to go to a nonbank or leave a state-licensed shop in one state to go to a new state.
With loan production suffering a noticeable decline in the first two months of the year, several small and medium-sized firms are struggling with profitability, causing intense speculation that the industry could be in for a wicked round of consolidation.
Gordon Albrecht, a senior director at specialty servicer FCI Lender Services, told IMFnews the new CFPB rules, in general, mean “more work and more servicing costs.”