Big Banks Play Government Like a Fiddle - Again

July 30, 2009

Year-after-year the largest lenders in the country push for regulations to stack the deck against hometown mortgage companies. Usually the tactics take the form of sweeping Real Estate Settlement and Procedures Act (RESPA) reforms that are disguised as consumer protection rules but apply only to mortgage brokers while loan originators for lenders remain unchecked and legally unlicensed.