'Perfect Storm' of Regulations to Hinder Restoration of Competitive Mortgage Marketplace

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Posted To: MND NewsWire

David H. Stevens, President and CEO of the Mortgage Bankers Association criticized the federal government and financial regulators as providing a lack of transparency and an overly burdensome regulatory atmosphere in remarks prepared for delivery at MBA's inaugural Independent Mortgage Bankers Conference. Stevens credited the federal government with driving much of independent bankers' recent successes with programs such as QE3, Operation Twist and HARP but also enumerated the burdens the independent bankers are carrying and asked "How can you keep running a business let alone grow your business in this atmosphere?" Right now the potential is there for a very bright future for the industry; interest rates are a record lows , home prices are stabilizing, consumer sentiment is rising, and the...(read more)

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