Proposed changes to the CFPB's QM rule don't go far enough.
Proposed tweaks to the points and fees cap is a nice gesture, but won't do much to help credit unions.
A proposed points and fees fix would allow mortgage lenders to refund borrowers if they exceed the 3% QM cap.
CFPB Director Richard Cordray said credit unions should not let anything get in the way of serving their members.
CFPB director sets the record straight on new rules and their effect on credit union mortgage lending.
Loan originator training and leveraged vendor relationships should help credit unions guide members through new CFPB rules.
Any time new rules and regulations are implemented, there could be unintended consequences.
Republican-led House Financial Services Committee launches site one day before CFPB Director Cordray presents semi-annual report.
Fifteen-member CU advisory group meets quarterly to discuss CFPB regulatory issues.
CFPB Director reassures Realtors credit unions can still make mortgage loans that don't conform to the bureau's qualified mortgage rule, which took effect Jan. 10.