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Volume 2014 - Number 27

July 10, 2014

Consumer Advocates See CFPB Allowing Cure for DTI Ratio Overages on QMs as Doing More Harm than Good

A number of consumer advocates strongly oppose a proposal from the Consumer Financial Protection Bureau that would allow lenders to cure mistakes regarding debt-to-income ratios on qualified mortgages. Lenders calling for the DTI ratio right-to-cure on QMs are making “Chicken Little” claims to support their arguments, according to the National Consumer Law Center and the National Association of Consumer Advocates. In April, the CFPB requested...

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