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Tag Archives: Qualified Mortgage

Report: Nationwide Housing Recovery Most Prominent in High-Income Areas

ProTeck noted a census report that revealed a $5,000 increase in median household income in 2013 in Seattle as well as a Forbes Magazine article that listed Seattle as one of the best places for business. Amazon, Costco, Boeing, Microsoft, and Nordstrom all have a presence in Seattle, making for a strong job market.

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Risk Retention Rule Nearing Completion

Federal Reserve governor Daniel Tarullo echoed Gruenberg's statement, though he was less concrete on a timeline: "I don't know whether I'd say by the end of the year, but I think we're definitely in the home stretch." As it was proposed in 2011, the rule originally called for securities issuers to hold on to 5 percent of a mortgage's risk after selling it unless the borrower made a 20 percent down payment.

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CFPB Rules Cited as Top Concern in Survey of Lenders

The Consumer Financial Protection Bureau's (CFPB) mandates and deadlines are still the top concern for lenders, according to QuestSoft's eighth annual compliance survey. More than 500 lenders responded to this year’s survey—62.2 percent ranked the Qualified Mortgage (QM) rule as a high concern.

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Dodd-Frank Regulations Pose a ‘Serious Challenge’

The American Bankers Association (ABA) released the results of its latest annual Real Estate Lending Survey, which clearly show signs of caution among loan officers. According to the ABA, more than 80 percent of bankers surveyed believe that tightened Dodd-Frank rules will restrict credit, thereby narrowing the pool of candidates able to secure mortgages.

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New QM Rules Produce Higher Costs and Elevated Risk Factors

2015 HUD

Although the new QM rules are expected to bring stability to loan manufacturing, the many nuances of compliance have resulted in doubling the cost of loan origination. This assessment was offered by Tom Showalter, Chief Analytic Officer at Digital Risk, a top provider of risk, compliance, and transaction management solutions.

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The Potential Impact of QM and Origination Defect Requirements

Mortgage Markets Today

Tom Showalter, Chief Analytics Officer of Digital Risk, joins the broadcast to discuss QM and origination defect requirements and potential impact. As Chief Analytics Officer, Tom is responsible for the data, analytics and “decisioning” systems in use and under development. Click ...

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