Advanced Search

Volume 2014 - Number 1

January 9, 2014

Lenders Large and Small Plan on Offering Non-QMs – To Well-Qualified Borrowers

When the Consumer Financial Protection Bureau was working on the definition for qualified mortgages, some warned the regulator that only QMs would be available after the standards took effect. However, with the QM era set to begin Friday, a number of lenders will offer non-QMs even though such originations will come with increased liability. While interest-only mortgages don’t meet QM criteria, the loans will continue to be offered by lenders large and small. The government-sponsored enterprises won’t buy them, so the originations will be left to portfolio lenders and those with non-agency sales outlets. “We will continue making...

Subscribers to Inside Mortgage Finance have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

A weekly "must read" for industry executives. Thoroughly covers regulatory, political, legislative and market issues in the residential mortgage business.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

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.

vote to see results
Housing Pulse