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Volume 25 - Number 01

January 6, 2014

Mortgage Industry’s Y2K Moment Arrives at Week End

Your father’s mortgage lending industry is about to be unofficially laid to rest at the end of the week. Four significant rules from the CFPB set to kick in on Friday, Jan. 10, seem poised to forever change the mortgage lending and servicing landscape. The rule that has gotten far and away the most negative publicity is the bureau’s new ability-to-repay/qualified mortgage rule, which creates two versions of a QM loan – a ‘safe harbor’ QM and a ‘rebuttable presumption’ QM – as well as a 3 percent points-and-fees cap. The rule also features...

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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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