Two mortgage industry groups have weighed in on the new mortgage regulations proposed earlier this week by the Federal Reserve Board of Governors (FRB.) The first, a major critic of regulatory efforts to end predatory lending, was critical of the proposed regulatory changes announced by the FRB on Tuesday...
The Mortgage Bankers Association (MBA) recently made a preemptive strike against what it obviously perceives as the next threat against the mortgage industry - " suitability standards ." It is suggested by some consumer advocacy organizations that such standards should be imposed on the lending industry...