Quantcast

Mortgage Grapevine

CFPB's new "Qualified Mortgage" rule unveiled

The Consumer Financial Protection Bureau wants to keep credit flowing by allowing lenders to rely on Fannie Mae, Freddie Mac and Federal Housing Administration automated underwriting systems to meet the underwriting standards of the new “qualified mortgage” rule that was issued early Thursday morning.

Read the rest on the National Mortgage News at Click Here


by webmaster January 10, 2013 12:14 AM


That's odd. I don't see the full text of the new rule posted anywhere on the CFPB website, at least not yet. CFPB says it will be posted at the following link, but it is not there, yet. Just summaries have been posted by CFPB. Webmaster, where did NMN find the actual text of the rule, or are the NMN comments based on the summaries?

Click Here

by oldbe January 10, 2013 11:21 AM


That is funny because it was not too long ago we heard that lenders who lent to FNMA / Freddie standards were irresponsible and crooks. And we needed to the NMLS and Barney Frank to fix it.


by RICHONE January 10, 2013 11:36 PM


Boy, did they fix it...
by oldbe January 11, 2013 4:01 PM


Guess this means private money will never get back in the business. 43% dti max way to make it tougher for millions more to get a loan......idiots!
by sfranny January 12, 2013 12:25 PM


Guess this means private money will never get back in the business. 43% dti max way to make it tougher for millions more to get a loan......idiots!
by sfranny January 12, 2013 12:25 PM


Guess this means private money will never get back in the business. 43% dti max way to make it tougher for millions more to get a loan......idiots!
by sfranny January 12, 2013 12:26 PM


Guess this means private money will never get back in the business. 43% dti max way to make it tougher for millions more to get a loan......idiots!
by sfranny January 12, 2013 12:30 PM


Reply

Username:
Password:
(No password? Register here)
Message:
(Don't be a nuisance.  Please avoid offensive language.  Advertisements are not allowed.)


Already a subscriber? Log in here
Please note you must now log in with your email address and password.