The CFPB is hoping that by removing a firm debt-to-income ratio metric from QM qualification standards, lenders will come up with new techniques to qualify borrowers.
Regulators delay review of risk-retention requirements for securitized mortgages; Wells Fargo updates underwriting standards for jumbo mortgages originated through the retail channel.
The proposal could eliminate GSE eligibility as a standard for a loan to be deemed a qualified mortgage. The regulator aims to level the playing field between the non-agency market and Fannie/Freddie.
Interest-only loan production dropped nearly 25% in 1Q. Meanwhile, the share of IOs originated in areas vulnerable to storms is increasing. (Includes data chart.)
It will be the 11th issuance of its type by loanDepot.
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