New Regulations Make Life More Difficult and Expensive But Mortgage Lending Goes On

The Consumer Financial Protection Bureau “(CFPB”) is a new federal agency which is in charge of protecting consumers in financial transaction. Since it was formed in 2011, they have spent a great deal of time investigating and then fining mortgage banks for violations of various lending laws. Unfortunately, the CFPB has spent a lot of time fining banks and mortgage loan originators; this has not really ended up helping consumers.  It also has not hurt the lending business as much as people thought it would. Though, it did result in driving many small mortgage companies out of business which left us only with the larger companies in a ...