Mortgage Bankers CEO Stevens Says New Rules Will Tighten Credit
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U.S. mortgage credit probably will get tighter as federal regulators continue working on new rules to govern housing finance, Mortgage Bankers Association President and Chief Executive Officer David Stevens said today.
Rules created by the 2010 Dodd-Frank Act, including measures to prevent mortgage abuses, are just starting to take effect and lenders are awaiting still more before the end of the year, Stevens said in an interview at a Bloomberg Government breakfast in Washington.