The cost of complying with the plethora of mortgage regulations, including the high-profile rules promulgated by the CFPB, consume nearly a quarter of lenders’ operating revenue and hurt both sellers and buyers with extended closing delays. Those were some of the chief findings of a survey performed by mortgage market research expert Tom Lamalfa, president of TSL Consulting, Cleveland Heights, OH, at the Mortgage Bankers Association National Secondary Market Conference in May. The results were distributed to MBA members last week via email. Among the questions posed to survey participants was, “Compliance costs consume about what percentage of your total operating expenses?” Of the 31 executives who responded, the average was 21.4 percent of total operating expenses. “The ranges were ...