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Home » Store » Ability to Repay » Concerns Raised to CFPB About Non-QMs

Concerns Raised to CFPB About Non-QMs

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Ability to Repay

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While the Consumer Financial Protection Bureau has encouraged originations of loans that don’t meet standards for qualified mortgages, consumer advocates this week voiced skepticism about the products. At a meeting by the CFPB’s 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. “Certainly that’s a gap,” he said of ...
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