Lenders Pushing for House Vote on Bill Helping LOs Move From Banks to Nonbanks, Mortgage Brokers Raise Concerns
May 5, 2016
Lenders and mortgage brokers are at odds over a House bill that would make it easier for loan originators to leave jobs at depository institutions and go to work for nonbank lenders. The Mortgage Bankers Association is pushing for a vote in the House on H.R. 2121, the SAFE Transitional Licensing Act of 2015. The bill was approved by the House Financial Services Committee in March on a 56-0 vote. The unanimous bipartisan support for the bill was fairly rare and suggested strong prospects for the legislation to move forward. However, a vote in the House has yet...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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