Volume 25 - Number 01
January 6, 2014
Mortgage Industrys Y2K Moment Arrives at Week End
Your fathers 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 bureaus 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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