Mortgage Bankers Association (MBA) president and CEO Bob Broeksmit said regulators should prioritize rolling back rules that raise costs as mortgage rates are likely to stay “stubbornly high” for the foreseeable future.

“A lot of burdensome regulations need to change,” Broeksmit said Monday at the MBA Secondary and Capital Markets Conference in New York. “Especially the ones that increase costs without providing much benefit or protection to Americans.”

Broeksmit pointed to several regulations the industry wants revisited. He said the loan officer compensation rule can limit lenders’ ability to offer better terms to borrowers who shop around, while calling for details ⇒

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