The Smart Team of NOVA® Home Loans

CFPB Lawyering Up, Also Requesting Input on Credit Availability; Lender Credit Changes

Posted To: Pipeline Press

“Those who have knowledge, don’t predict. Those who predict, don’t have knowledge.” But what if you use knowledge to predict? Research by Goldman Sachs finds 33% of Millennials say they won’t need a bank in 5 years . How do you like them apples? Per this NY Times article, despite claims to the contrary, bank lending isn’t being impeded by onerous regulations . Lenders are often caught in the crossroads of regulations and credit decisions: making sound underwriting decisions in a compliant manner that help the consumer in a cost-effective manner. Donald Trump thinks the CFPB’s structure makes it ” unaccountable ” to the American people. The U.S. Circuit Court of Appeals for the DC Circuit, in response to the CFPB’s Petition in the PHH Case, has vacated the decision of the three judge…(read more)

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Source: Mortgage News Daily

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