The qualified mortgage (QM) rule was implemented in January of 2014. The law is intended to protect consumers by strengthening underwriting standards, but some have argued that the rules will raise costs and reduce access for consumers. This survey queries a sample of mortgage lenders about the rule’s impact on their business and how the rule could in turn impact consumers.
Highlights of the Survey
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When asked about the extent of the QM rule’s impact, 55% of survey respondents indicated that the QM rule would affect 2.6% to 20% of their originations… Read More