Government Drives Banks From Mortgages

Wall Street Journal, May 18, 2016–Stevens, David

MBA President and CEO David Stevens, CMB, argues that traditional banks have pulled back from the mortgage lending business, primarily due to the federal government’s onerous enforcement regime that is extracting hundreds of millions of dollars in fines and settlements. “Borrowers are fortunate to have well-capitalized and well-regulated independent mortgage banks ready to plug the gap,” he said.