A group of trade associations urged increased coordination between the Federal Housing Administration (FHA) and the Consumer Financial Protection Bureau (CFPB).
In a comment letter to the Department of Housing and Urban Development (HUD), the American Bankers Association, American Financial Services Association, Consumer Mortgage Coalition and Mortgage Bankers Association, said that an FHA proposed regulatory amendment that would allow mortgagees to charge interest only through the day a loan is fully paid is necessary because of a recent CFPB regulation.
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