Items Tagged with 'ability to repay rule'

ARTICLES

What's next now that Republicans control the Presidency and Congress?

Are Dodd-Frank and the CFPB on the chopping block?
While much of the country’s attention is focused on the seemingly unexpected election of Donald Trump, it shouldn’t be lost that the Republican Party also maintained its control of the House of Representatives and the Senate in this election. Now one party will control the legislative and executive branches of the government for at least the next two years. So what does that mean for the financial services industry, given the seismic changes the industry has seen in the last eight years?
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Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending
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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New lending rules set to raise the cost of borrowing: S&P

Analysts prep for extended foreclosure timelines, fewer loan modifications
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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