WASHINGTON, D.C. (Independent Community Bankers of America) – New mortgage restrictions have caused many community banks to scale back on the number of residential mortgage loans they make, according to a new survey by the Independent Community Bankers of America (ICBA).
Seventy-three percent of survey respondents said regulatory burdens are preventing them from making more residential mortgage loans.
"ICBA’s survey validates what community banks have long predicted: that new restrictions on mortgage lending are reducing much-needed access to mortgage credit for many Americans," said ICBA President and CEO Camden R. Fine.
Other survey findings include:
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