Lender Proxies on Capitol Hill Press Cordray on QM Implementation
September 23, 2013
The CFPBs ability-to-repay qualified mortgage rule is steaming full speed ahead with January implementation, and that has anxious lenders appealing to sympathetic ears on Capitol Hill for relief, one way or another. During a hearing earlier this month before the House Financial Services Committee, Rep. Shelley Moore Capito, R-WV, raised with CFPB Director Richard Cordray concerns shes been hearing from some of her mortgage lender constituents about the bureaus pending mortgage rules, including the ATR/QM. During a roundtable she held...