TITLE

In Mortgage Regs, States Catch-Up, and Then Some

AUTHOR(S)
Berry, Kate
PUB. DATE
May 2010
SOURCE
American Banker;5/18/2010, Vol. 175 Issue 76, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses attempts by states to create more transparency in nonbank mortgage lending. Under the 2008 U.S. Safe and Fair Enforcement for Mortgage Licensing Act, nonbank lenders will be required to file call reports similar to those filed quarterly by banks. The purpose of the law is to prevent fraudulent sales tactics by requiring minimum state mortgage licensing standards for mortgage lenders.
ACCESSION #
50659849

 

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