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NAR urges bureau to ease up on ‘mini-correspondent’ guidance
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Consumer Protection
Tuesday, October 7, 2014
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The National Association of Realtors is concerned that recent Consumer Financial Protection Bureau guidance on mini-correspondent lenders could unfairly discriminate against smaller market participants and lead to further concentration in the mortgage market. The group urged the bureau not to over-emphasize certain elements of its mini-correspondent test. Read on to learn about the CFPB’s mini-correspondent guidance and NAR’s concerns.
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