Federal agencies assured institutions that they will not base their judgments of a loan's safety and soundness on its status as a QM or non-QM loan.
Read More »HUD Puts Out Qualified Mortgage Definition
HUD has issued a newly revised definition of a qualified mortgage (QM) that will affect all Federal Housing Administration (FHA)-insured loans moving forward. The new rules go into effect on January 10, 2014, and will apply to mortgages that are insured, guaranteed, or administered by HUD. The agency defined two categories of QM, with the main difference being the relation between a loan's annual percentage rate and its average prime offer rate.
Read More »Credit Availability Tightens as Lenders Limit Offerings
The Mortgage Bankers Association's" (MBA) Mortgage Credit Availability Index (MCAI) slipped 1.2 percent to settle at 110.2 in November, wiping out the 0.7 percent gain recorded a month prior.
Read More »LoanSifter to Host QM-Focused Webinars
LoanSifter, a Wisconsin-based company specializing in technology for loan originators and secondary departments, is hosting two industry panels this week to address concerns and strategies revolving around the soon-to-be-implemented qualified mortgage (QM) rule.
Read More »January Guidelines to Alter RMBS Rating Criteria
With the implementation date for the ability-to-repay and qualified mortgage (QM) guidelines creeping ever close, Fitch Ratings expects it will have to adapt its ratings process to work them in.
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