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October 16, 2014

Lender: CFPB Appraisal Rule Costing His Shop an Extra $50K a Month

By Thomas Ressler

Timothy Zimmerman, president and CEO of Standard Bank, said he’s bothered by too small a percentage of lenders making loans outside the QM parameters.

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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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