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Volume 2014 - Number 13

June 20, 2014

Concerns Raised to CFPB About Non-QMs

While the Consumer Financial Protection Bureau has encouraged originations of loans that donít meet standards for qualified mortgages, consumer advocates this week voiced skepticism about the products. At a meeting by the CFPBís consumer advisory board, Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals, noted that most non-QM lenders appear to be focusing on jumbo borrowers. ďCertainly thatís a gap,Ē he said of ...

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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.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%