Browsing: Ability to repay and qualified mortgage

Mortgage

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA submitted two white papers to the Treasury Department today with recommendations for reforming current mortgage lending rules and regulations and the government-sponsored enterprises Fannie Mae and Freddie Mac.

Community Banking

The House Financial Services Committee today voted to advance the Financial Choice Act, Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.

Economy

As the House Financial Services Committee prepares to begin the markup of the Financial Choice Act tomorrow, ABA President and CEO Rob Nichols wrote to committee leadership commending them for their efforts to address the negative consequences of the Dodd-Frank Act.

Mortgage

Rep. Andy Barr (R-Ky.) today introduced the ABA-advocated Portfolio Lending and Mortgage Access Act (H.R. 2226). The bill would expand access to mortgage credit by treating loans originated by a bank and held in portfolio as Qualified Mortgages—a key provision in ABA’s Blueprint for Growth.

Economy

The House Financial Services Committee today held a hearing on the Financial Choice Act, Committee Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.

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