I tried to find out how much is spent on enforcing just the Home Mortgage Disclosure Act (HMDA) and the Real Estate Settlement Procedures Act (RESPA), which entails an army of government lawyers and statisticians, but neither my Congressman or my Senators could come up with an answer and didn’t seem particularly concerned that no one knew.
My guess is that more money is spent by the lending industry itself in government mandated reporting and by the Feds in excessive monitoring and regulating than would be needed to fund every loan ever turned down by any lender for any reason whatever, including fraud and bad credit, let alone illegal discrimination.
Anyone know how to light a fire under Congress and make them come up with a figure?

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