Here’s a surprise: New mortgage regulations that were implemented last Friday might actually help consumers.
The bottom line, according to this Zillow report, is that many lenders have already adopted new practices now required by the recently established Consumer Financial Protection Bureau (CFPB).
As a result, not a whole lot will change in the mortgage market, Zillow claims.
Except, of course, there will be more required documentation. No new regulations would be true regulations without more documentation. Right?
File under: Bureaucracies — can’t live with ‘em, can’t live without ‘em