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CoreLogic is continuing its analysis of the potential impact of the January 2021 expiration of the so-called "GSE Patch." Under the Consumer Financial Protection Bureau's (CFPB's) 2013 Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rules, lenders must make a reasonable, good faith determination of a consumer's ability to repay a mortgage loan based on verified financial information generally associated with responsible mortgage lending practices. In most cases, meeting QM requirements provides lenders with a safe harbor from the Rules' legal liabilities. Lenders who fail to comply can be held liable for damages by both the CFPB and the homeowner. The Patch provides a temporary category under ATR and QM rules under which loans eligible for purchase or guarantee by the GSEs Fannie Mae and
Housing News
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CoreLogic is continuing its analysis of the potential impact of the January 2021 expiration of the so-called "GSE Patch." Under the Consumer Financial Protection Bureau's (CFPB's) 2013 Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rules, lenders... (read more)
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Rob Chrisman
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Lenders, and all financial sector firms, continue to ruminate on the privacy law in California that now gives people the right to access and delete personal data companies have collected. LOs are ready and willing to delete all client information fro... (read more)
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MBS Commentary
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Rather than serve to accelerate or crush the negative bond market momentum building at the end of 2019, 2020 has only compounded the broader sideways trend. It hasn't been as boring as "sideways" tends to be either! Credit the Iran flare-... (read more)
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Mortgage Rate Watch
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Mortgage rates had been moving higher over the past few days. The average lender was at the highest levels of the month as of yesterday morning, but things began to change shortly thereafter. Today's market movement added to the friendly momentum aft... (read more)
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Housing News
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Results of a survey by the National Association of Realtors (NAR) released today echo the findings from the most recent National Housing Survey (NHS) conducted by Fannie Mae - Americans think this is a great time to buy a home. Sixty-three percent of... (read more)
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Housing News
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After the housing crash and as the recovery began home builders ratcheted up the size of the homes they were building because the profit margin was higher on larger homes. There was also a lot of competition at lower price points from the numbers of ... (read more)
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