The new policy includes the implementation of a waterfall of loan modifications designed to reduce borrowers' monthly mortgage payment by at least 20%.

The assessment comes amid a shortage of appraisers along with concerns that the existing pool of appraisers isn’t sufficiently diverse.

“We are fully committed to ensuring that veterans are neither disadvantaged nor overcharged in the homebuying process,” said VA Press Secretary Terrence Hayes.

The Trump administration made substantial progress toward ending the conservatorship of Fannie Mae and Freddie Mac.

Those opposed include the American Bankers Association, the Housing Policy Council, the Securities Industry and Financial Markets Association, the Structured Finance Association and U.S. Mortgage Insurers.

“The dynamics with the [CFPB] will now start to resemble those of most federal agencies: there will be legal challenges to specific regulations and enforcement actions … but those will be focused, targeted challenges, not existential ones,” according to Adam Levitin, a Georgetown University law school professor.

Brent Giese, executive director for fixed income at Daiwa Capital Markets, said the new margin requirements will put additional financial stress on mortgage lenders.

The Mortgage Bankers Association and the National Association of Realtors applauded the news.

The CFPB is considering rulemaking or guidance aimed at improving competition, choice and affordability.

The proposed increases range between about 17% and 25%, depending on the fee.