Mortgage firms need to reassess their fair lending programs to check for discrimination based on sexual orientation and gender identity, according to industry attorneys.
The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.
Nonbank lenders and mortgage real estate investment trusts stand to gain from expanding the eligibility requirement for FHLBank membership, according to industry comment letters.
HUD Secretary Ben Carson told lawmakers he will cooperate with an inquiry into whether a new policy prevents DACA recipients from receiving federally backed mortgage loans.
While it is unclear how the attorney general would approach the enforcement efforts, the penalties for violations could be hefty and accumulate quickly.
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