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March 26, 2014

Smaller Mortgage Lenders Swearing Off Non-QM Lending

By Thomas Ressler

Addressing CFPB officials at the American Bankers Associationís government relations conference in Washington, one community banker from Oklahoma reported survey findings that one-third of respondents in the state are no longer offering residential mortgages.

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The year is almost 75% done. How is mortgage origination volume at your shop?

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We will fund less than last year – by a lot.

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