Industry Players ‘Drowning’ in a Torrent of New Compliance Rules
September 28, 2009
Participants in the Mortgage Bankers Association’s recent regulatory compliance conference say they are increasingly overwhelmed by the number of new mortgage laws and regulations they must comply with currently and in the coming months. Lenders say they are incurring massive costs to purchase, develop or tweak systems to accommodate regulatory changes. Despite their best efforts, many are left...