Will Mortgage Regs Drain Credit Unions' Will To Lend?

Will Mortgage Regs Drain Credit Unions' Will To Lend?

 

And compliance attorney Michael Christians with PolicyWorks in Iowa, says effects already are being felt and could further dampen credit union mortgage lending.

Christians points to the integrated disclosure rule that takes effect next Aug. 1 that combines current Reg Z and Reg X application and closing requirements (the CFPB’s Know Before You Owe package.) He also says the new Ability to Repay rule and proposed changes to the NCUA’s current appraisal rules are and would be felt.

For more, visit CreditUnions.com.