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Mortgage Industry Regulatory Reform: Strategies for Change

Explore critical issues in the mortgage industry, assess intervention points, and review foreclosure processes for reform. Focus on balancing borrower and provider interests, evaluating foreclosure responses, and developing training to combat fraud.

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Mortgage Industry Regulatory Reform: Strategies for Change

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  1. Work Group 3: Regulatory Reform Chair: Jay DeBoer, DPOR • Critical Issues • Assess potential points for strategic intervention and reform of mortgage industry. • Review the foreclosure process and determine need to revise. • Balancing the financial interest of borrowers and mortgage providers. • Examine and evaluate the effectiveness of foreclosure responses of other states.

  2. Work Group 3: Regulatory Reform • Focus Areas • Develop training for the realtor and mortgage communities including a comprehensive handbook on rules and regulations. • Assess level of mortgage rescue scams and determine need to address through enforcement. • Evaluate need for increased penalties for mortgage fraud. • Review the role and independence of real estate appraisals in the mortgage process.

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