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Volume 2014 - Number 26

December 19, 2014

Fair Lending Issues with Income Documentation

Industry attorneys warn that documenting borrowers’ income for compliance with ability-to-repay standards established by the Consumer Financial Protection Bureau can prompt fair lending liability issues. During a webinar hosted by Inside Mortgage Finance Publications last week, R. Colgate Selden, counsel at the law firm of Alston & Bird, said there are a number of fair lending issues surrounding income documentation and determining debt-to-income ratio calculations ...

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

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Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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