Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.
House Financial Services Committee Chairwoman Maxine Waters and over a hundred other lawmakers want the agency to go forward with a mandatory underwriting requirement for payday loans.
Sen. Elizabeth Warren, D-Mass., and three House members are seeking more details about Paul Watkins' past work with an organization the Southern Poverty Law Center says is an anti-LGBTQ hate group.
With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.
Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.
The mortgage industry was caught off guard by regulators’ decision to cease special treatment for Fannie Mae and Freddie Mac in complying with underwriting rules. But how big of an impact will the new policy have?
