Posts with tag mortgage regulations

Could new mortgage regulations created to protect homebuyers under the Truth in Lending Act actually hurt more than it helps? The debate rages on, as mortgage brokers brace for what some argue will lead to less competition in the market, and therefore less credit for consumers. Charles Hugh Smith at our sister site,... Continue Reading »

Elizabeth Warren has a big job on her hands, but so far the Obama-appointed leader of the team charged with setting up the new Consumer Financial Protection Bureau (CFPB) seems up to the task. In a major early step, Warren convinced state and federal regulators to sign a memorandum of understanding (MOU) to agree to work... Continue Reading »

The Federal Reserve has banned mortgage fees you probably weren't even aware of, but that were inflating your home-loan interest rate. On Monday, the Fed announced it was banning yield spread premiums, or YSPs. YSPs are essentially bonuses that lenders paid to mortgage brokers who steered them high-interest loans. The YSP... Continue Reading »