With the end of the blissful go-go days of an ever-rising housing market and ever-prime mortgages, the notion of risk has become our close companion.
Could the new Qualified Mortgage (QM) rule bring about a dangerous housing bubble?
Could the CFPB be worried that its ability-to-repay/qualified mortgage rule is already contracting the availability of mortgage credit?
Possible fraudulent lending activity increased last year just as the Consumer Financial Protection Bureau prepared to issue new regulations requiring lenders to verify borrowers’ financial records and ability to repay mortgages.
The U.S. Consumer Financial Protection Bureau (CFPB) is expected to deliver the definitions and rules that make a qualified mortgage.