Attorney General Peter F. Kilmartin joined housing advocates — as well as the mayors of Providence, Pawtucket and Warwick — to urge the General Assembly to extend the state's Foreclosure Mediation Act, set to expire on July 1.
JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.
The increased regulatory burden created by the Dodd-Frank Act restricted bank residential lending in 2017, especially when it came to non-qualified mortgages, according to an American Bankers Association survey.
Although the Consumer Financial Protection Bureau is loosening certain mortgage rules, others such as restrictions on loan officer compensation and state-level regulation will likely persist, according to industry attorneys.