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Benjamin K. Olson Quoted in Bankrate Article, “Borrowers Beware: These Mortgage Rules Could Soon Get a Face-Lift”

Bankrate

Benjamin K. Olson

Benjamin K. Olson was quoted on December 22, 2017 in a Bankrate article, “Borrowers Beware: These Mortgage Rules Could Soon Get a Face-Lift,” which discussed the potential policy changes to mortgage rules including HMDA, TRID, and ability-to-repay under the new acting CFPB director Mick Mulvaney. The article noted, “The CFPB’s final rules can’t be modified without issuing a notice and asking the public for feedback. When the opportunity arises, visit the CFPB’s website and comment on the rules the agency is proposing.”

Olson added, “The CFPB doesn’t have to do what the comments say, but they have to provide a reason for not doing so to avoid the rule being struck down as arbitrary and capricious.”

Click here to read the full article.