The CFPB’s ability-to-repay/qualified mortgage rule is putting credit unions in a bind. What does it mean for buyers?
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Under the Microscope – How Effective are QM Rules?
Nearly a decade after the housing crisis in 2008 and the passing of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, the Consumer Financial Protection Bureau will soon be required by law to examine the Ability-to-Repay/Qualified Mortgage Rule and assess the rule’s effectiveness. With the housing market having bounced back since the crash, will some of the rule’s guidelines be amended? What could this mean for borrowers and mortgage professionals?
Read More »CFPB Dispels Myths Surrounding New Servicing Rules and QM Rule
In an address at the National Credit Union Association on Tuesday, CFPB Director Richard Cordray answered criticisms surrounding the Bureau's regulatory changes in the mortgage industry.
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