So far, the CFPB has fined seven VA lenders a total of $2.02 million for false and misleading advertisements. It demonstrates the bureau’s interest in protecting servicemembers and veterans, according to attorneys.
The CFPB’s proposal to replace the 43% DTI ratio limit for determining QMs with a price-based approach has received support from industry participants.
Fewer borrowers are staying with their previous lender/servicers post mortgage refinancing. Quicken Loans stands out with an exceptionally high retention rate.
One of the key functions of the GSEs is to pool risk nationally for the benefit of underserved borrowers, and any capital framework for the enterprises has to build in this cross-subsidy, according to housing advocates.
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