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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

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