TITLE

CFPB: QM Rule Talks Aren't Ignoring Access to Credit

AUTHOR(S)
Davidson, Kate
PUB. DATE
March 2012
SOURCE
American Banker;3/28/2012, Vol. 117 Issue 48, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports the comments of U.S. Consumer Financial Protection Bureau (CFPB) Deputy Director Raj Date on the agency's agenda. The CFPB's focus on access to consumer credit and finalization of the qualified mortgage (QM) rule, which is expected to be ready by the end of June 2012, is discussed. The QM rule requires lenders to verify a borrower's ability to repay a mortgage except when the loan can be defined as a QM.
ACCESSION #
73920926

 

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