Recently we polled our Compliance Master Group members on the Ability-to-Repay/Qualified Mortgages rules. There were no huge surprises, but we got a lot of confirmation of what we expected to see: Most creditors use a mix of ATR/QM options; The Small Creditor QM is the most popular ATR/QM option; Adopting the ATR/QM rules was a challenge, but did not reduce loan volume for most creditors; and Most creditors have not yet adopted Appendix Q, but […]
Category: Poll Results
HOMEOWNERSHIP COUNSELING POLL
HOMEOWNERSHIP COUNSELING POLL Compliance Masters Group July 18, 2014 A recent poll of our Compliance Master Group members centered on the issue of homeownership counseling rules. There were no huge surprises. We got a lot of confirmation of what we expected to see: Providing the list of counseling organizations is not a significant burden; The potential burden on consumers is high, but unrealized, since most of our members have few, if any, transactions subject […]