The mortgage industry might be seeing a lot less regulations in 2017.
Trump might also look to reduce the impact of a power financial regulatory agency.
Experts believe the incoming president will also roll back the influence of the Consumer Financial Protection Bureau, which has been investigating instances of mortgage malpractice, including problems with redlining at record-high rate in recent years, the source reported. Deregulation would be focused in areas of the industry where new rules have made the cost of compliance too high for some competitors, The Wall Street Journal reported.
Some also think that Trump will raise the threshold for stricter bank regulations above its current $50 billion limit, according to American Banker.
Although it is unclear exactly what the president will do now that he has assumed office, mortgage lenders should most likely expect fewer regulations in their future.