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Stock impact report

The Trump administration wants banks back in the mortgage business. Banks have other ideas. [Yahoo! Finance]

Rocket Companies, Inc. Class A (RKT) 
Company Research Source: Yahoo! Finance
Banks, though, aren't likely to go along. Regulators are hoping that pushing mortgage origination back to banks and away from less-regulated lenders will unlock more loans for homebuyers, give federal agencies more insight into risks brewing in the housing market and boost revenue for regulated financial institutions. In the wake of the 2008 financial crisis, the federal government imposed rules requiring banks to hold more capital on their balance sheets to withstand another housing meltdown. Those rules raised the cost of mortgage lending for banks, leading many to scale back the business. Now, under President Donald Trump, regulators are rolling back some of those rules to make lending more attractive to banks. “Regulation by reflex has driven excessive regulation,” Treasury Secretary Scott Bessent said in February. “That can lead to economic stagnation.” But banks aren't likely to rush back into the mortgage business, analysts say. Many banks see mortgage lending as a les Show less Read more
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