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Friday, April 25, 2014

Keating Talks Mortgages on Fox Business

The unseasonably cold winter wasn't the only factor in recent poor housing numbers, ABA President and CEO Frank Keating said on Fox Business' "After the Bell" program last night. He pointed to the thousands of pages of mortgage regulations issued under the Dodd-Frank Act, which he said has a "chilling effect" on credit.

Keating said:
We have a lot of banks that say they will not be in the mortgage market anymore. This is a very difficult environment. It's costly in terms of compliance. The complexity of this process will definitely chill the mortgage market. Hopefully cooler heads will prevail and we'll get some amendments and change.
Watch the interview here.

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