Original Source Material
Banks have lost their hold on mortgage originations in recent years to nonbanks. The Fed is looking at regulatory changes to bring mortgages back into the banking fold, according to Michelle Bowman.
Fed to consider changes in mortgage lending rules
Summary
- The Federal Reserve is considering regulatory changes to bring mortgage origination back into the banking sector.
- This follows a trend where nonbanks have taken over much of the mortgage lending market.
Why It Matters for Texas Credit Unions
Relevant as it could impact Texas credit unions' ability to compete in the mortgage market and potentially affect their regulatory environment.