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April 8, 2014

Rep. Hensarling Says Mortgage Banker Forced Out of Business Because of Compliance Costs and Complexity

By Thomas Ressler

Committee Chairman Jeb Hensarling, R-TX, cited a letter from a mortgage banking constituent who said his company is being forced out of the residential lending business because of the cost and complexity of regulatory compliance.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%