Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

Estimated reading time: 0 minutes, 30 seconds

CFPB Swaps Debt-to-Income Limit for Price-Based Approach

Thursday, Jul 02 2020
Lending
Written by 

The Consumer Financial Protection Bureau has issued two proposed rules that would extend its qualified mortgage patch and replace a current debt-to-income limit for borrowers with a price-based approach. So reports Realtor.com.

The CFPB said that a price-based approach would be a more representative measure of a borrower’s ability to repay than their debt-to-income ratio alone.

“The Bureau is committed to ensuring a smooth and orderly mortgage market throughout its consideration of these issues and any resulting transition away from the GSE Patch," CFPB director Kathleen Kraninger said in a statement.

Read the full article from Realtor.com.

Read 2449 times
Rate this item
(0 votes)
More in this category: « Stearns Lending Promotes Steve Smith to President Why California May Be the Best State for Your New Lending Business »

FOLLOW US