New Jumbo and Reverse Products; Chase and Wells Roll Out Low Down Payment Programs

Posted To: Pipeline Press

According to Reuters, the NY state financial regulator is gearing up to launch an investigation into the entire online lending industry . (The regulator has already been looking into LendingClub.) Never a good thing to hear your secretary say, "The NY Attorney General is holding for you on line 2." On a more serious note, the lending and banking industries continue to suffer from various regulators a) being afraid of the CFPB, and b) basically competing with each other to create rules where there were none before in an attempt to make a name for themselves. Of course the consumer bears the ultimate brunt of this. Yesterday I brought up the ignored or misunderstood topic of Section 342 in Dodd Frank . I took the opportunity to contact a handful of random of others on the forefront of this topic...(read more)

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from Mortgage News Daily http://ift.tt/1TCf1RY