FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
QM solutions: Discount point rate reductions and ‘established industry practices’
|
Consumer Protection
Tuesday, April 15, 2014
|
|
The Consumer Financial Protection Bureau’s ability-to-repay/qualified mortgage rule provides that up to two “bona fide discount points” may be excluded from the QM points and fees calculation. The rule also provides that these discount points must result in a rate reduction consistent with “established industry practices.” Industry participants have struggled with this requirement. Read on to learn what Richard Andreano, a partner at Ballard Spahr, said about the issue during a recent October Research, LLC webinar.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories