Heightened regulatory scrutiny by the Consumer Financial Protection Bureau (CFPB) has not led to a large decline in mortgage lending. However, CFPB-supervised banks originate fewer loans to risky borrowers, according to a new Federal Reserve System study.
The study measured the effect of CFPB oversight on the volume of residential mortgages originations, using data collected under the Home Mortgage Disclosure Act (HMDA).
It also studied the composition of mortgage lending, especially risk, as well as the time it takes to originate a mortgage. Read on for more from the report.
TO READ THE FULL STORY
Cover Story: