Volume 2014 - Number 2
January 16, 2014
Legal, Reputational Risk Might Discourage Lenders From Originating Non-QM Loans
A lot of prospective homebuyers may be shut out of the market if their mortgage financing cant pass muster with the Consumer Financial Protection Bureaus qualified-mortgage standard, congressional testimony this week suggested. Witnesses from The Peoples Bank Company, of Coldwater, OH, and Quicken Loans said during a House Financial Services Financial Institutions Subcommittee hearing this week that their firms plan to stay away from making mortgages that dont fit into either the safe harbor or the rebuttable-presumption QM boxes. There is...
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