Key Highlights
- Mortgage Bankers Association and National Association of Realtors both supporth passage of this bill
- Will loosening of regulation make up for lost sales volume from higher interest rates?
Let’s see what if any new mortgage products will hit the market as a result of this loosening of regulations. I suspect it will mainly be a loosening of the ridiculous amounts of unnecessary disclosures and mandatory waiting periods involved in the 1-4 unit residential mortgage market.
Bill passes 258 to 159
How many disclosures are there and how many will be eliminated? Is there a difference between them? Why do we need new products and how will they help the new buyers?