RESPRO recently submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) supporting modifications to the Ability-To-Repay/Qualified Mortgage (ATR/QM) rule to expand access and choice in credit providers.
The CFPB previously announced it will let the QM patch – which grants QM status for certain loans with high debt-to-income (DTI) ratios – expire Jan. 10, 2021, as scheduled.
Read on to see RESPRO President and Executive Director Ken Trepeta’s recommendations.
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