Recent Consumer Financial Protection Bureau actions suggest the agency is poised to utilize the ambiguous Unfair Deceptive Acts and Practices standards to the fullest extent.
Borrowers have been generally in a rush to refinance during the holidays. This year, there has been no such impetus.
This year looks bad, and next year not much better. But the best mortgage salespeople can still make a lot of money.
The Federal Housing Administration is handcuffed but Fannie Mae and Freddie Macs new regulator is expected to favor broader mortgage financing terms for borrowers.