Lenders offering non-qualified mortgages that rely solely on a borrower’s assets need to carefully prove the borrower’s ability to repay, according to guidance from the Consumer Financial Protection Bureau. In a notice issued this week, the regulator cautioned that a large downpayment alone isn’t sufficient to prove a borrower’s ability to repay a non-QM that is based on the consumer’s assets. The spring edition of the CFPB’s supervisory highlights publication provides insights from ...