Letter: Comments on CFPB on the Ability-to-Repay/QM Rule

August 2, 2017

On July 31st, USMI submitted the following response to the request for comment regarding the Consumer Financial Protection Bureau’s notice of assessment of the Ability-to-Repay/Qualified Mortgage rule. USMI applauds the Bureau for undertaking an assessment of this critical rule that is aimed at enhancing lending standards and consumer protection, now that sufficient time has passed since it went into effect. As described in the letter, USMI encourages the Bureau to assess whether different QM standards across the various regulatory agencies have negatively impacted consumers. Click here to read the full letter.