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August 5, 2014

Short Takes: Senator’s Bill to Amend TILA Has ‘Legs’ / MBA: Mortgage Credit Availability Increases In July /Freddie Announces Ninth Multifamily K-Deal of 2014 / Statebridge Receives Mid-Tier Rating from Fitch / Fannie: Lenders Expect Non-Agency Credit Standards to Remain Unchanged

By Brandon Ivey

Shortly before Congress left town for its annual summertime break, Sen. Mary Landrieu, D-LA, introduced S. 2641, legislation to amend the Truth in Lending Act to provide that residential mortgage loans held in portfolio would be deemed qualified mortgages for purposes of satisfying the requirements of the Consumer Financial Protection Bureau’s ability-to-repay rule.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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