Mortgage execs better prepare for redlining enforcement



Since Rohit Chopra was confirmed as the new director of the Consumer Financial Protection Bureau (CFPB) in September, there’s been one particular word on the lips of mortgage executives. And it gives them chills: redlining.

“We are going to see a lot of emphasis on redlining: when you’re actively, intentionally separating out areas that you choose not to do business,” Troy Garris, co-managing partner at Garris Horn LLP, said during a panel in the Mortgage Bankers Association (MBA) Annual Convention and Expo in San Diego on Monday.

The expectation that redlining will be on the CFPB agenda assumes that Chopra and his team will focus more on enforcement supervision than rulemaking.

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    The post Mortgage execs better prepare for redlining enforcement appeared first on HousingWire.


    Source link

    Leave a Comment

    Your email address will not be published. Required fields are marked *