The Mortgage Bankers Association and a local trade group said imposing Community Reinvestment Act requirements on nonbanks isn’t the way to address the barriers to homeownership.
Several complaint categories saw significant increases on a quarter-to-quarter basis, while grievances tied to student loans dropped. (Includes two data tables.)
The trade group called for clear federal guidance on existing laws to provide regulatory certainty and facilitate the adoption of artificial intelligence by the mortgage industry.