The Consumer Financial Protection Bureau (“CFPB”) issued two relatively welcome surprises yesterday. First, along with ditching a debt-to-income ratio (“DTI”) ceiling, the agency expanded its proposed general Qualified...more
12/14/2020
/ Ability-to-Repay ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Fannie Mae ,
Financial Regulatory Reform ,
Financial Services Industry ,
Freddie Mac ,
GSE ,
HOEPA ,
Mortgages ,
Qualified Mortgage Rule
In a new era of double-digit unemployment resulting from the COVID-19 pandemic, it may be tough for a mortgage lender to predict the amount and stability of someone’s income in order to determine qualification for a home...more
6/10/2020
/ Ability-to-Repay ,
Borrowers ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Fannie Mae ,
Financial Services Industry ,
Freddie Mac ,
Freelance Workers ,
GSE ,
Independent Contractors ,
Mortgage Loan Servicing Standards ,
Mortgages ,
Qualifying Income ,
Underwriting