FNMA Survey Indicates QM Rules Lead to Increased Lender Costs

FNMA Survey Indicates QM Rules Lead to Increased Lender Costs
FannieMae has released a survey that indicates the CFPB's Ability-to-Repay (“ATR”) and Qualified Mortgage (“QM”) rules will lead to increased lender costs. Specifically, most firms (74%) reported that they expect their operational costs to increase as …
Read more on JD Supra (press release)

Blackhawk Bank Now Providing Service to Northern Rock County
Blackhawk Bank's mortgage services include, first and foremost, responsible advice regarding the purchaser's financial circumstances when pre-qualifying for a loan to help ensure long term financial well-being. The Bank offers programs for first time …
Read more on WIFR

Bank of America to pay .27 billion for mortgage fraud
Judge Jed Rakoff [official profile] for the US District Court for the Southern District of New York [official website] ruled after a jury found that Bank of America, the second largest bank in the US, had defrauded government-controlled mortgage …
Read more on JURIST

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