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Updated over 6 years ago on . Most recent reply
2018 Dodd-Frank changes and owner-occupied residential lending
Does anyone know if the 2018 changes to the Dodd-Frank law will once again allow private lenders to loan on owner-occupied residential properties?
Thanks!
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Stephanie P.
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Stephanie P.
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Originally posted by @Larry Goff:
Does anyone know if the 2018 changes to the Dodd-Frank law will once again allow private lenders to loan on owner-occupied residential properties?
Thanks!
No. To my knowledge, the changes did nothing to allow private lenders to loan on owner-occupied residential properties and the rules for covered mortgages are still in force. It really did nothing to the CFPB or how it regulates covered mortgages. I've linked to a biased, but pretty informative story from Brookings Institution.