Browsing: Mortgage

Mortgage

ABA yesterday welcomed the Consumer Financial Protection Bureau’s proposal to extend the temporary “GSE patch”—which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Me or Freddie Mac—until the bureau’s proposed QM rule changes are finalized and take effect.

Mortgage

ABA joined the California Bankers Association and other industry groups in a letter opposing A.B. 1436, a bill introduced in the California legislature that would mandate specific outcomes for mortgage forbearance relief, require excessively prescriptive post-forbearance repayment and impose significant legal liability.

Mortgage

ABA this week joined a coalition of housing and financial trade groups in a letter urging the Federal Housing Administration to change its current underwriting policy on student loan debt, noting that current requirements “may be disqualifying otherwise creditworthy borrowers” from qualifying for FHA financing.  

Economy

As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.

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