WASHINGTON—U.S. mortgage
lenders and real-estate agents are growing concerned a new set of
mortgage-lending standards under development by a new consumer regulator will
imperil the fledgling housing recovery and limit the availability of home
loans.
In recent
weeks, after meetings with consumer bureau officials, several real-estate industry
groups and some consumer advocacy organizations have grown worried about how
the Consumer Financial Protection Bureau could interpret the mortgage lending
rules, which it is aims to finish by this summer.
In a letter to be sent to the consumer bureau
Monday, 33 lobbying groups, including the National Association of Realtors,
Mortgage Bankers Association and American Bankers Association, warn against an
overly restrictive interpretation of the "qualified mortgage" lending
rules, which are required by the 2010 Dodd-Frank financial overhaul law.
No comments:
Post a Comment