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CFPB seeks feedback on first-lien originations limit for small creditors
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Consumer Protection
Friday, May 9, 2014
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The Consumer Financial Protection Bureau’s new mortgage rules include several provisions intended to preserve borrowers’ ability to access loans from small creditors, and the CFPB is currently seeking feedback on aspects of the small creditor definition. The bureau wants to hear from smaller institutions, particularly those that would have qualified as small creditors under the bureau’s rules but for a key 500 loan cap on total annual first-lien originations.
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