Mortgage Compliance Pros Fear Dodd-Frank Tsunami, Restrictive Lending Atmosphere
June 16, 2011
Mortgage compliance experts are bracing for up to 10,000 pages of new Dodd-Frank Act regulations that will make mortgage lending exponentially more difficult, according to industry officials at this weeks regulatory compliance conference sponsored by the American Bankers Association. Dodd-Frank is going to increase the compliance burden, the risk of non-compliance and the cost of mortgage lending, said David Kelly, executive vice president in charge of loan operations for FirstBank Data Corp. The new regulatory environment will feature...