Industry trade groups are providing input to a Consumer Financial Protection Bureau (CFPB) proposal to change the way a qualified mortgage (QM) is determined.
The plan would create a standard based on the spread of loan price against the average prime offer rate, as well as eliminate debt-to-income as a standalone factor for QM eligibility.
Read on to see what RESPRO and the National Association of Realtors is suggesting the CFPB do.
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