Items Tagged with 'qualified mortgage'

ARTICLES

  • 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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  • Plaza Home Mortgage expands non-QM lending for mortgage brokers

    Now offers “flexible income documentation” requirements
    Mortgage brokers and correspondent lenders now have expanded options when it comes to lending to borrowers who don’t fit into the Qualified Mortgage box. Plaza Home Mortgage announced this week that it is rolling out an expanded non-QM lending program to “allow brokers and correspondent lenders to qualify more non-traditional borrowers.”
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  • 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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  • MBA Secondary: Predicting the future of housing finance policy

    Will new FHA, FHFA leaders get to implement any changes before the next election?
    With several key housing appointments still vacant and uncertainty building around legislative direction after the upcoming mid-term elections, forecasting the future of housing finance is tricky. But a panel of eminent industry leaders gave it a try at the Mortgage Bankers Association Secondary Marketing conference on Monday.
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  • DBRS: Non-QM loans to see comeback in 2018

    Lenders to create new products as refis fall
    As interest rates rise, mortgage refinances continue to fall, marking the possible beginning to a comeback in non-qualified mortgage loans, a new report from DBRS showed. But the decrease in mortgage refis isn’t the only reason DBRS is predicting an increase in non-QM loans.
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  • Monday Morning Cup of Coffee: Industry trade groups tell Senate how to fix financial regulations

    MBA, CUNA weigh in on regulatory reforms
    The main front for the Republican Party’s push for regulatory reform is in the House of Representatives, where an effort is underway to replace the Dodd-Frank Wall Street Reform Act with the Financial CHOICE Act. But the House isn’t the only place where regulatory reform is on the table. Here's a look at what some of the mortgage industry's biggest trade groups want the Senate to do about regulatory reform. All that, and more, in your Monday Morning Cup of Coffee.
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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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  • 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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  • Republicans set to unveil plan to replace Dodd-Frank

    Hensarling: Dodd-Frank "stands as a monument to the arrogance and hubris of man"
    Later this year, the Dodd-Frank Wall Street Reform and Consumer Protection Act will reach its sixth anniversary, unless Congressional Republicans get their way. They would hate to see Dodd-Frank reach anniversary number seven judging by this recent, fiery speech. Here's what their replacement would look like.
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  • Collingwood Group Chairman calls out 'regulatory Jihad' on mortgage lenders

    Tim Rood says regulations actually seriously harming borrowers
    There is little doubt that there are more regulations foisted upon the mortgage industry in the wake of the housing crisis. Count Tim Rood, the chairman of The Collingwood Group, among those who think the regulatory environment is smothering mortgage lenders, going so far as to use a shocking term to describe the current lending environment.
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