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June 12, 2014

Industry Groups Back CFPB Proposal on QM ‘Right to Cure’

By George Brooks

The Mortgage Bankers Association said the proposed cure would allow loans intended to be QMs to qualify as such regardless of an inadvertent excess in points and fees.

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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