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Richard Cordray
Impac Mortgage rolls out loans with easier qualifying terms
Impac Mortgage rolls out loans with easier qualifying terms

An Irvine mortgage company that pulled the plug on its higher-risk loans a year before the Great Recession has launched an array of rule-bending home loans nationwide — a sign of a thaw in tightfisted lending standards in place since the housing crash. Impac Mortgage Holdings Inc. is writing loans that fall outside certain limits set by home-finance giants Fannie Mae and Freddie Mac, as well as Consumer Financial Protection Bureau rules that discourage the reckless lending that fed the market meltdown and the recession. Impac may even have the regulators' blessings. The consumer bureau's director, Richard Cordray, has told lenders they have "little to fear" in...

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