Sentences with phrase «defined qualified mortgage rule»

The National Association of Realtors ® applauds the Consumer Financial Protection Bureau for creating a broadly defined Qualified Mortgage rule that establishes strong consumer protections while ensuring continued access to safe, affordable mortgage credit.

Not exact matches

The CFPB rule defines a «qualified mortgage» that is presumed to meet the ability to repay requirements as one «for which the «creditor» underwrites the loan, taking into account the monthly payment for mortgage - related obligations, using: The maximum interest rate that may apply during the first five years after the date on which the first regular periodic payment will be due.»

A proposed rule to define qualified residential mortgages (QRM) under the Dodd - Frank Wall Street Reform and Consumer Protection Act (the Dodd - Frank Act) would unnecessarily restrict access to home ownership.

NAR President Steve Brown, co-owner of Irongate, Inc., Realtors ® in Dayton, Ohio, noted that new rules defining the Qualified Mortgage will be going into effect soon.

Washington, D.C. — Today, the Coalition for Sensible Housing Policy released the following statement in response to an editorial by the Washington Post regarding a revised proposal by federal regulators to define the Qualified Residential Mortgage (QRM) rule:

After rules like the Qualified Mortgage (QM) and the Qualified Residential Mortgage (QRM) are defined, private participation in the market might increase.

«We hope that the final rule will align with the broadly defined Qualified Mortgage / Ability - to - Repay rules that were implemented in January.

In a small but notable victory for consumers and REALTORS ®, federal banking regulators pushed back to Aug. 1 from June 10 the deadline for public comment on their controversial rule to define a safe, qualified residential mortgage as one with at least 20 percent down, among other strict underwriting criteria.