Can President Obama Fix the Mortgage Industry? We May Soon Know

NOV 30, 2012 12:33pm ET
Comments (4)

As I’ve mentioned in the past, mortgage bankers (the ones that read National Mortgage News at least) tend to vote Republican though there are exceptions to the rule. I base that on both interviews I’ve conducted and email correspondence. But there is also a growing anger in certain sectors of the mortgage business – particularly among smaller nonbank players – toward all politicians. And yes, certain factions of the industry aren’t crazy about the GOP either because they seem to favor big banks and think consolidation is a good idea. Anyway, Obama won the election and that means a slew of new mortgage regulations – QM, QRM, LO compensation and servicing standards – will get finalized and hashed out in the months ahead. And as mortgage professionals see the new rules --  and digest them -- they will ask three basic questions (at least): how much is this going to cost me? Can I stay in business? And how can I compete against the guy across the street?


Comments (4)
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