Dodd-Frank Rollback Adds Regulation on PACE
Scotsman Guide, May 31, 2018–Victor Whitman
The Economic Growth, Regulatory Relief, and Consumer Protection Act, or S. 2155, directs the Consumer Financial Protection Bureau to establish rules on private PACE financiers that ensure that borrowers can repay the costs of the improvements. The largest mortgage trade group, the Mortgage Bankers Association, has been lobbying for tough rules on PACE loans, saying that consumers have been left unprotected.
