ICBA: 73 Percent of
Community Banks Say Regulations Hurt Mortgage Lending
New mortgage regulations are preventing community bankers from making more residential mortgage loans, according to 73 percent of community bankers surveyed by the Independent Community Bankers of America. A large number are no longer active in the residential mortgage market, are considering an exit from this line of lending, or are leaving the market, reveals the ICBA's 2014 Community Bank Lending Survey. ICBA also reports that 44 percent of respondents said they originated fewer first-lien residential mortgage loans last year compared with 2013. Moreover, half of all rural banks said they do not qualify for the Qualified Mortgage rule's "rural" exception, which suggests that exemptions from the standard are too narrow and are limiting access to credit for customers who need it.
From "ICBA: 73 Percent of Community Banks Say Regulations Hurt Mortgage Lending"
Housing Wire (01/27/15) Garrison, Trey
New mortgage regulations are preventing community bankers from making more residential mortgage loans, according to 73 percent of community bankers surveyed by the Independent Community Bankers of America. A large number are no longer active in the residential mortgage market, are considering an exit from this line of lending, or are leaving the market, reveals the ICBA's 2014 Community Bank Lending Survey. ICBA also reports that 44 percent of respondents said they originated fewer first-lien residential mortgage loans last year compared with 2013. Moreover, half of all rural banks said they do not qualify for the Qualified Mortgage rule's "rural" exception, which suggests that exemptions from the standard are too narrow and are limiting access to credit for customers who need it.
From "ICBA: 73 Percent of Community Banks Say Regulations Hurt Mortgage Lending"
Housing Wire (01/27/15) Garrison, Trey
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