“New mortgage regulations will provide important protections to borrowers …
“New mortgage regulations will provide important protections to borrowers but may also lead to a permanent increase in the cost of originating loans to borrowers with lower credit scores,” Duke said. For example, servicing standards are now more stringent, especially for defaulting loans, but servicer compensation remains the same. Servicing a delinquent loan is more costly, more time-consuming, and earns a servicer no additional compensation. As such, banks may continue to shy away from…
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