Increased Mortgage Regulations are Hurting the Housing Industry

Posted on in Industry, TV Appearances

Brian Montgomery joined Neil Cavuto on Fox Business News on October 7, 2014 to discuss the results of The Collingwood Group’s premier Mortgage Industry Outlook Report. Brian says that, “lenders are by-in-large fed up with the degree of regulation coming out of Washington.” When asked which rules are causing lenders the most trouble he answered, “its more the totality of the rules that came about through Dodd-Frank, the snail’s pace it took to implement a lot of them, and the cost of implementation– bringing on more compliance staff, legal assistants and all that–all within the span of 18 months, its just been a lot for many lenders, particularly smaller lenders.”

Some highlights from the report include:

  • 78% of survey respondents say mortgage regulations are hurting business
  • Only 2% say it is “extremely likely” that the housing industry will improve in the next six months
  • 69% report tightening credit due to increased mortgage regulations

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