Promoting Access to Mortgage Credit

Document overview

Summary

Section 1 . Purpose. Every American seeking to buy a home should have access to a mortgage from a reliable lender, at a rate commensurate with his or her creditworthiness. Over the past two decades, however, statutory and regulatory changes—including rules adopted under the Dodd-Frank Act, Public Law 111-203 , and subsequent rulemakings—have increased the compliance costs of mortgage origination and servicing and distorted the structure of the mortgage market. These burdens have contributed to a significant decline in bank participation in mortgage lending. Community banks, generally institutions with fewer than $30 billion in assets, have been especially affected.…

When the Federal Register does not provide a substantive abstract, Civixly selects a meaningful passage from the official text or clearly labels a title-based fallback.