As QRM Proposal is Issued, Cordray Is Wary of Alignment With QM
September 9, 2013
Federal regulators issued a revised credit risk retention/qualified residential mortgage proposed rule late last month, one that tilts heavily in the direction of the qualified mortgage provisions established in the CFPBs ability-to-repay rule and that close proximity concerns the bureaus director, Richard Cordray. The proposal released Aug. 28 we see as another key step in obtaining further certainty for the mortgage market going forward, said Cordray, who as one of the four members of the Federal Deposit...