Will getting banks back into mortgage lending bring down rates? The Fed thinks so.

Historically, if you wanted a mortgage, your first stop was likely at a bank or a local credit union. But in recent years, you’re more likely to have borrowed from a specialized mortgage company that isn’t a bank at all, like CrossCountry Mortgage, Rocket, or loanDepot. The Federal Reserve would like to change that. It’s considering tweaking the rules designed to incentivize banks to lend more and stay involved in mortgage servicing, the long-term administrative process of collecting and distributing paym ...