Five years after the implementation of the Ability to Repay (ATR) and Qualified Mortgage (QM) standards, the Consumer Financial Protection Bureau is conducting a statutorily mandated look back at the rules to determine whether changes are appropriate.
Stratmor Group found in a recent survey that the industry on the whole is not in favor of change. “Just when they’ve figured out how to comply with rules, ‘change’ is in the air,” Senior Advisor Rob Chrisman said.
Read on for more details of the findings of Stratmor’s study, including surprising results from larger lenders.
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