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CFPB Mulls Fate of Trump-Era Mortgage Rules

The Consumer Financial Protection Bureau has said that it is weighing whether to “revisit” the Seasoned QM and General QM rules, codified in December under the Trump administration. So reports CNBC.

-more-->While the Mortgage Bankers Association head Robert Broeksmit said that the rules will help lenders offer mortgages to Black and Hispanic homebuyers, consumer advocates said the rules eliminate protections for borrowers established after the 2008 financial crisis.

Boston College Law School professor Patricia McCoy called the CFPB’s move “a big deal.”

Read the full article from CNBC.

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