Urban Institute: Qualified Mortgage impact overblown

Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
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Items Tagged with 'ability to repay rule'

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Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending
Ben Lane
According to new analysis from the Housing Finance Policy Center team at the Urban Institute, there has been “surprisingly little impact” on the mortgage origination numbers since QM went into effect in January.
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What tomorrow may bring: How QM impacts Realtors

Real estate agents should ask homebuyers to get conditional mortgage approval
Kerri Ann Panchuk
Real estate agents have been somewhat absent in the whole debate over the qualified mortgage lending and ability-to-repay rules, but they are not immune from the consequences.
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Mortgage rates freeze as market enters uncertain era

30-year, FRM averages 4.51%
Kerri Ann Panchuk
Mortgage rates stayed mostly in place this past week as the housing finance market braced for the launch of the qualified mortgage and ability-to-repay rules.
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HUD publishes its final definition of a qualified mortgage

Rule limits upfront points and fees, with a few exceptions
Kerri Ann Panchuk
The U.S. Department of Housing and Urban Development launched its official internal definition of a qualified mortgage – or a loan that can be insured, guaranteed or administered by the department.
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Trickier non-QM loans will challenge private mortgage bond market

Moody's cites litigation risk as huge roadblock
Kerri Ann Panchuk
Non-QM loans packed into securitization deals could create excessive legal risk for investors at a time when their appetite for less-restrictive lending standards is growing.
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New lending rules set to raise the cost of borrowing: S&P

Analysts prep for extended foreclosure timelines, fewer loan modifications
Kerri Ann Panchuk
The January launch of the ability-to-repay rule and its associated qualified-mortgage definition is expected to raise the overall cost of originating home loans, with borrowers taking the brunt of the financial hit, Standard & Poor’s Rating Services reported.
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Qualified Mortgage rule may help protect RMBS investors

Clearer due diligence likely added to rep and warrants
Christina Mlynski
The forthcoming ability-to-repay rule will have a direct impact on the primary and secondary mortgage markets. Fitch Ratings suggested a few improvements that could help the market weather the transition.
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Strict QM compliance does not raise fair lending risk

Regulators ease fears over potential discrimination claims
Christina Mlynski
Five federal regulatory agencies want lenders to rest assure that they do not anticipate a creditor’s decision to offer only QM to elevate a supervised institution’s risk of fair lending practices.
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