Disparate Impact Tops Groups’ List Of HUD Rules Needing an Overhaul
June 23, 2017
Industry comments on the Department of Housing and Urban Development’s plan to streamline and clarify agency regulations and discard those that have outlived their usefulness reflect mixed priorities.The Mortgage Bankers Association and the American Bankers Association chose to focus on a single issue, while the National Association of Realtors, the Community Home Lenders Association and the Consumer Mortgage Coalition called for changes on multiple issues. A HUD task force is sifting through department regulations to identify those for repeal, replacement, clarification or amendment. The regulatory review is in response to President Trump’s directive to reduce regulatory burden and control regulatory costs. While the MBA called for a freeze on all future False Claims Act enforcement actions against lenders (see story on p. 6), the ABA raised concerns about ...