‘Soft’ Information Underwriting a Hard Sell to Regulators?
GoRion, May 15, 2017–Charles Wisniowski
Two separate but parallel top-level reviews of mortgage-related regulations may yet allow community banks, credit unions and other proponents of “soft” information in loan underwriting to broaden credit access and permit small lenders to regain the competitive advantage they lost to big banks following adoption of the Dodd-Frank Act mandates, but industry observers say it’s a tall order.
