Economist: Here's why mortgage supply and demand isn't normal

Economist: Here's why mortgage supply and demand isn't normal

What has recovered or is close to being recovered?

CFPB responds to criticisms of consumer-complaint database program

Bureau answers questions raised by HousingWire, Mercatus and trade groups

Mercatus: CFPB shouldn’t create open consumer-complaint database

Info would be unfair, inaccurate, costly and without statutory authority
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Do home buyers need mortgage brokers?

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On Tuesday, Bank of America Corp. exited the wholesale mortgage lending business, limiting its dealings with mortgage brokers to focus on loans made directly to consumers and community banks. Some fear the move will leave fewer options for home buyers as they shop for the most competitive mortgage rates. Essentially, BofA’s decision means that Wells Fargo & Co. is the only major bank that’s willing to buy loans from mortgage brokers. Last year, JP Morgan Chase & Co. said it would no longer purchase loans originated by brokers, noting in an internal memo that loans originated by Chase professionals are less likely to default.

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