With the mortgage industry having failed to delay implementation of the CFPB’s ability-to-repay rule/qualified mortgage standard, industry representatives have shifted gears and are now pressing for numerous alterations to the bureau’s controversial rule, which took effect Jan. 10. During a hearing last week before the House Subcommittee on Financial Institutions and Consumer Credit, the Mortgage Bankers Association had a number of recommendations, including abandoning the “rebuttable presumption” level of legal...