Estimated reading time: 0 minutes, 26 seconds

CFPB Mulls Fate of Trump-Era Mortgage Rules

Friday, Feb 26 2021
Lending
Written by 

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.

Read 2128 times
Rate this item
(0 votes)
More in this category: « Stearns Lending Promotes Steve Smith to President NY Court Issues Key Decision on Mortgage Timing »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline