CFPB, facing staffing constraints, moves to expand mortgage credit box

Kris Kully, a partner in Mayer Brown’s consumer financial services group, was quoted in this article.

“They’ll also likely to address ways that they can open up the regulation to easier refinancing transactions,” Kully said. “Some refis, just by definition, put the borrower in a better position, but it’s pretty narrow in the regulation. So I would be very surprised if they don’t ask for information about how they can broaden that concept, making it easier for borrowers who want to refi.”