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May 19, 2014

CFPB Ready to Crack Down on Lenders for Facilitating ‘Occupancy Fraud’

By Brandon Ivey

The Consumer Financial Protection Bureau is on the lookout for lenders that facilitate occupancy fraud as a way to avoid the agency's ability-to-repay rule.

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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%