How Risky Is It to Make a Non-QM Mortgage? And Is QM Going to Hold Back Access to Credit?

One of the huge questions hanging over the mortgage market today is what will happen to access to credit for credit impaired or non-traditional borrowers. There is a real concern that the Dodd-Frank Act’s mortgage reforms will reduce the availability of mortgage credit because lenders’ fear liability for making mortgage loans that fail to qualify as “Qualified Mortgages” (QM) and are thus potentially subject to an Ability-to-Repay (ATR) defense.

via How Risky Is It to Make a Non-QM Mortgage? And Is QM Going to Hold Back Access to Credit? – Credit Slips.

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