A bill aimed at removing incentives for mortgage brokers to put borrowers in risky loans while requiring lenders to retain some "skin in the game" could hurt the very consumers it’s designed to protect if it further constricts mortgage lending, real estate industry critics say.

At a recent hearing on the bill, some consumer advocates — and state banking regulators who stand to lose some of their authority if the bill is passed — said the bill’s language is too weak to accomplish its lofty goals.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top