MBA Statement on CFPB’s Proposed Changes to the QM Rule and Extension of the GSE Patch
|Rob Van Raaphorst|
WASHINGTON, D.C. (June 22, 2020) - MBA Statement by President and CEO Bob Broeksmit, CMB, regarding the Consumer Financial Protection Bureau (CFPB) Notice of Proposed Rulemakings about the QM/ATR Rule and the extension of the GSE Patch.
"MBA appreciates the CFPB's proposed changes to the QM Rule and extension of the GSE Patch. As proposed, the regulatory changes would seek to ensure creditworthy borrowers have access to sustainable mortgage credit without disruption to the overall mortgage market. MBA looks forward to reviewing and commenting on both rules, and we will continue to work with policymakers and all other stakeholders to ensure borrowers are both protected and have access to credit throughout the mortgage lending process.