CUNA and NAFCU both told the Federal Reserve that they support the Federal Reserve’s proposed definition of a qualified mortgage but want some changes to make certain parts of the rule less ambiguous.
Letter to regulators urges relaxation of 20% down payment requirement.
This look at a key Aug. 1 deadline is just one of the articles that will appear in the next edition of Credit Union Times.
Executives from CUNA and CUNA Mutual Insurance Group are asking more credit unions to comment on ongoing discussions about the definitions of what will be a qualifying residential mortgage, or QRM.
The Mortgage Bankers Association has argued before Congress that the proposed definition of qualified residential mortgages will wind up forcing more borrowers into using government-backed loans.
The Mortgage Bankers Association has significant doubts about the regulations meant to provide mortgage issuers rules for making safer loans.