Posted 10/31/2023, 4:07:01 PM
Rising Rates and Regulations Create Headwinds for Homebuyers and Lenders
- Rapid rise in mortgage rates and high home prices impeding homebuyers
- Regulatory uncertainty increases borrowing costs for consumers
- FHFA comments indicate progress toward balanced loan defect remedies
- Proposed mortgage capital requirement increases could hurt regional banks
- Hazard insurance mandates drive up costs for homeowners
- Some state regulations make lending requirements more stringent
- States can help by expediting regulatory approvals for lenders
- Unnecessary regulations add thousands in costs or limit lending options
- Regulators should streamline compliance, balance regulations, maximize transparency