Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Are Qualified Mortgages Really Safe?

Notify me of new replies via email
Mortgage Professional America | 19 Dec 2012, 11:44 AM Agree 0
According to several news reports, final rulemaking on the issue of what will really constitute a qualified mortgage in the United States starting in 2013 is coming down to the wire, and mortgage lenders stand to benefit the most in terms of legal protections from consumers.
  • Brandon Cornett | | 24 Dec 2012, 11:18 AM Agree 0
    Based on our email conversations with the CFPB, it seems that the qualified mortgage rule will be fairly broad -- not nearly as restrictive or 'damaging' as many bankers make it out to be. I don't expect it to change much on the direct lending side, as far as borrowers are concerned. The biggest changes, as you pointed out, will be the new legal protections for lenders. We will know more in a month or so.
Post a reply