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MBA CEO: Mortgage credit may tighten up

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With the federal government pumping out more rules, an article in Businessweek cites Mortgage Bankers Association CEO David Stevens saying mortgage credit will probably get tighter as federal regulators continue working on new rules to govern housing finance. 

The trade association is pushing regulators to align the rules to help lenders not have to deal with overlapping requirements, the article explains. 

Rules created by the 2010 Dodd-Frank Act, including measures to prevent mortgage abuses, are just starting to take effect and lenders are awaiting still more before the end of the year, Stevens said.

Source: Businessweek
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