This week, the Community Home Lenders of America (CHLA) released a special report entitled “The Ubiquity of IMB Regulation.” This report is important to independent mortgage banks (like Atlantic Bay Mortgage) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers.
Unfortunately, the growth of IMBs over the last decade has opened IMBs up to increasingly strident attacks. We have witnessed a steady drumbeat of claims — that IMBs are “risky,” that they are largely unregulated.
The CHLA report exposes how the “IMBs are risky” myth often relies on misrepresentations about how programs like details ⇒
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