Items Tagged with 'QM'

ARTICLES

  • Bipartisan push begins in Senate to expand mortgage access for self-employed borrowers

    Self-Employed Mortgage Access Act introduced
    Ever since the Qualified Mortgage rule went into effect a few years ago, borrowers who don’t have a traditional source of income have had a hard time getting a mortgage. Well, a bipartisan push is underway in the Senate that could change that. Late Tuesday, Sens. Mark Warner, D-Virginia, and Mike Rounds, R-South Dakota, announced they are introducing legislation designed to make it easier for self-employed borrowers to get a mortgage.
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  • Here's how the industry adapted to QM lending, heightened regulations

    8 charts break down the impact of regulations
    As the mortgage regulation alphabet continues, with lenders implementing HMDA, TRID, QM and more, it’s not going without notice in the industry. A new survey found that lenders believe regulation is having a negative impact on business production and consumer credit availability. These charts break down how that’s affecting the bottom line.
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  • CFPB preps to review major mortgage rules

    Falls under Dodd-Frank requirement
    January 2018 marks five years since the Consumer Financial Protection Bureau finalized the qualified mortgage rule. The five-year anniversary means more than a landmark date of a major regulation though, as it also means the bureau is required to reassess its major mortgage rules. Will the CFPB use this process to change the mortgage market again?
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  • What is the competitive advantage for non-QM lending?

    Find the need, fill the need
    The introduction of the Qualified Mortgage rule in January 2014 brought about the concept of non-QM lending, loans that do not meet agency requirements. Within the first year of the rule taking effect, lenders started to come out saying that they would originate non-QM loans. This is why that idea is a company positive.
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  • House votes to revamp Qualified Mortgage rules

    Presidential veto is looming
    The House of Representatives voted Wednesday to change the definition of “Qualified Mortgage,” opening the door to a potentially seismic change in the mortgage lending landscape. But will the President play along?
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  • Dodd-Frank continues to smother mortgage lending

    ABA survey: 78% say less credit available, 1/3 only do QM
    The Consumer Financial Protection Bureau’s mortgage lending rules continue to cause a reduction in credit availability, with 19% of mortgage lenders surveyed saying the impact is “severe.” Want to know more?
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  • Democrats push new bill allowing community banks to exceed QM rule

    Bill has broad support among Democratic committee members
    The leading Democrats on both the Senate Banking Committee and the House Financial Services Committee are pushing a new bill designed to provide regulatory relief to community banks and increase consumer protections. Most notable among the bill’s provisions is a stipulation that would allow smaller banks to exceed the QM rules while still qualifying for QM Safe Harbor.
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