Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Source: Inman News
Posts published in “qualified mortgage”
The investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market. Source: Inman News
Non-QM lender lender lays off three-fourths of workforce, saying it’s experienced “significant operating losses and cash flow challenges” and has been unable to obtain funding. …
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Source: Inman News
Mortgage lenders tightened underwriting standards in June, undoing much of the easing seen over the last six months as initial fears about the long-term impacts…
The CFPB announced that despite concerns from the housing industry, it is postponing compliance with its new QM rule until Oct. 1, 2022. Source:…
Mortgage Bankers Association says lenders have been gearing up for changes, and new standards will actually increase access to credit. Source: Inman News
The National Association of Realtors is calling on the Consumer Finance Protection Bureau to improve the qualified mortgage definition and government-sponsored entity patch as well…