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January 29, 2014

Bank of the West Swims Against the QM Tide to Offer Interest-Only Mortgages

By Thomas Ressler

Bank of the West executive Paul Wible said the lender believes, "A well-underwritten, interest-only mortgage can be a good choice for our customers" and are safe for the depository to hold in portfolio.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results