Items Tagged with 'QM standard'

ARTICLES

  • Wells Fargo, Bank of America, Quicken Loans, others want DTI requirement eliminated from QM lending rules

    Coalition of massive lenders, trade groups call on CFPB to change QM rules
    Four of the largest mortgage lenders in the country are leading a coalition that is calling on the Consumer Financial Protection Bureau to make to changes to the Ability to Repay/Qualified Mortgage rule. Specifically, the group, which includes Bank of America, Quicken Loans, Wells Fargo, and Caliber Home Loans, wants the CFPB to do away with the QM rule’s debt-to-income ratio requirement.
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  • [Pulse] We must improve the QM standard, and this is why

    With the GSE patch set to expire in less than 2 years, we need reforms that will even the playing field
    The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA, VA, and USDA handbooks.
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