The problem with Appendix Q is twofold: It is difficult to comply with due to its technicality and it limits self-employed borrowers’ access to credit…
With the qualified mortgage “patch” scheduled to sunset in 2021, lenders are pushing for changes to the Appendix Q documentation requirements amid a broader debate over the debt-to-income limit.
The third meeting this year between officials of the CFPB and the CMLA focused on the loan originator compensation rule. The trade group noted that bureau Director Kathy Kraninger is open to industry feedback.
Democratic lawmakers expressed concerns over Paul Watkins and his fitness to oversee the CFPB’s innovation programs, due to his past work at a conservative religious group which is allegedly anti-LGBTQ.