To the Point with Bob: Misconceptions Surrounding Cash-Out Refinancing

Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, posted a new entry in his blog, To the Point with Bob, on Misconceptions Surrounding Cash-Out Refinancing.

The entry can be found at

The blog comes in response to a Nov. 25 Wall Street Journal article, Borrowers Are Tapping Their Homes for Cash, Even as Rates Rise, which Broeksmit said contains misconceptions about home equity loans. He noted that today there are numerous regulations in place that better govern home equity loans and that the industry has tighter underwriting requirements.

“There won’t be a return to the equity-stripping practices of some subprime lenders that occurred over a decade ago,” Broeksmit said. “The mortgage industry is following these rules and regulations, and will continue to lend responsibly.”