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Volume 2014 - Number 8

February 27, 2014

Many Mortgage Lenders Were Not Fully Prepared for ATR Rule, Evidence Suggests

Many mortgage lenders were not 100 percent battle-ready when the Consumer Financial Protection Bureau's ability-to-repay rule and its qualified mortgage lending standard kicked in on Jan. 10, 2014, according to a new industry survey and anecdotal reports. A recent survey conducted by the National Association of Realtors between Jan. 6 and Jan. 20 found that 16.7 percent of respondents indicated that they had already adapted to the ATR rule, while 44.4 percent said they would be ready within three months. "Nearly a third of respondents indicated...

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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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