Wary Investors Kicking Back More Mortgages
NASDAQ, Dec. 23, 2015
New consumer-disclosure requirements are doing more than delaying closings of some home loans. Now the mortgage industry is sounding a bigger alarm, claiming some investors are refusing to buy certain loans once they close because of potential compliance failures. Pete Mills, the Mortgage Bankers Association’s senior vice president of residential policy, said lenders want the Consumer Financial Protection Bureau to clarify whether “technical” errors can be fixed by lenders without incurring a penalty.
