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Volume 2014 - Number 12

June 6, 2014

ATR’s Documentation Requirements Bite Lender

Officials at Hudson City Bancorp said the jumbo portfolio lender is facing a significant loss of potential originations this year due to the documentation requirements included in the Consumer Financial Protection Bureau’s ability-to-repay rule. In January, Hudson City stopped offering mortgages with reduced-documentation standards due to the implementation of the ATR rule. Such loans accounted for 22.0 percent of the lender’s $3.44 billion in production in 2013. “We discontinued...

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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