POWERED BY STORYTELLING ❖ CRAFTED BY THE BEST WRITERS ON THE PLANET

CLICK BELOW TO REDISCOVER HUMANITY

CFPB Likely to Ease Rules on Fees for QM Loans

Under the Consumer Financial Protection Bureau’s regulation, all such fees are included in a points and fees test that says they cannot exceed 3% of the loan amount and still qualify for QM status.

But observers said the CFPB appears likely to ease its interpretation of affiliated fees, allowing transactions that are passed through an affiliate to a third-party provider to be excluded from the test.

“I understand from unofficial sources that the CFPB is working on some clarifications to the ability-to-repay rule,” said Leonard Chanin, a partner at Morrison & Forester and a former top official at the agency.

via National Mortgage News – CFPB Likely to Ease Rules on Fees for QM Loans.

BIZCATALYST 360°https://www.bizcatalyst360.com/about/
We are an Award-Winning global media digest, operating under the umbrella of 360° Nation, encompassing a wide range of multimedia enterprises, including; 360° Nation Studios —dedicated to reaching across the world in an effort to capture, produce, and deliver positive, uplifting messages via game-changing productions such as HopeFest 360°, and BucketFest 360°. We also operate GoodWorks 360° —a pro-bono consulting foundation focused entirely on providing mission-critical advisory services to nonprofits worldwide. With an emphasis on action, our 800+ international contributors empower people to transition from knowing what to do to actually doing it. Today and every day, we simply deliver the very best insights, intelligence, and inspiration available anywhere, doing it our way by placing our writers and our audience at the forefront. It's magical. It's evergreen. And quite frankly, It's just good stuff. Period.

DAILY INSPIRATION. DELIVERED.

PROUD RECIPIENT OF THE WEB MARKETING ASSOCIATION 2020 "STANDARD OF EXCELLENCE" AWARD