Ben Carson Vows to Pull Back on Mortgage Penalties at HUD
- Carson says HUD is working with Justice Department on Fines
- Big banks say lawsuit fears have prompted lending pullback
Secretary of Housing and Urban Development, Ben Carson.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Ben Carson doesn’t want big banks to worry so much about being penalized from mortgage lending errors.
Carson, head of the U.S. Department of Housing and Urban Development, said Monday that the agency wants lenders to get more comfortable about financing lower-income borrowers without risk of being sued by the federal government.