Items Tagged with 'DTI ratio'

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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  • CFPB moves to kill QM patch

    Plans to level playing field by ending special treatment for GSEs
    The CFPB revealed late Thursday that it plans to allow for the planned expiration of the QM patch in January 2021, noting that it may impose a brief extension “to facilitate a smooth and orderly transition.” Regardless, the QM patch appears to be nearing its end days. The bureau is seeking input on how to make this transition, and a number of industry players are already weighing in, stressing an urgent need to redefine a Qualified Mortgage. Click the headline to read more.
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