Banks need more time to get ready for new mortgage lending rules due to take effect Jan. 1, the head of an industry trade group said Tuesday in Omaha. Without a delay of six months to a year, some banks will stop or cut back mortgage lending to avoid legal problems and other issues, said Matthew Williams, a Nebraska banker who is chairman of the American Bankers Association.
via Mortgage lending at risk if rules not delayed, banker says – Omaha.com.
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