In the past two weeks the Consumer Financial Protection Bureau has issued four rules, including the qualified mortgage rule and a servicing regulation. More regulations are in the pipeline from the CFPB and other regulators.
“These changes will impact business operations and the future of mortgage access for years to come,” according to MBA president and chief executive David Stevens.
Read the whole story on National Mortgage News. I placed it here to reaffirm our prediction that Dodd-Frank would eventually become the Elephant in the Room and that our Industry is going to face this specter a hell of a lot sooner if we do not begin to take out the proverbial trash!