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May 27, 2014

Maneuvering Around the QM Points-and-Fees Cap: Roll It Into the Rate

By Thomas Ressler

“In recent client meetings, Stratmor heard that lender fees are now being included in the rate sheet price,” Yung said. Indications are that the 3 percent cap is causing lenders to fold the lender fees into the rate – specifically on the retail side.

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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.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results