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February 12, 2014

Lenders Brace for Changes to HMDA Reporting, QM a Concern

By Thomas Ressler

Among the changes on the table are disclosing the loan term, total points and fees, the length of any teaser or introductory rate, and the applicant or borrower’s age and credit score.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%