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Williams Mullen: Debate Continues over Liability Protection for Lenders: Safe Harbor verses Rebuttable Presumption for "Qualified Mortgages"

BY: J.P. MCGUIRE BOYD, JR. Fifteen months after the Federal Reserve Board proposed its initial ability-to-repay rule as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, no final rule has been adopted due in large part to the continuing debate over how to protect lenders...

Williams Mullen: Debate Continues over Liability Protection for Lenders: Safe Harbor verses Rebuttable Presumption for “Qualified Mortgages”

BY: J.P. MCGUIRE BOYD, JR. Fifteen months after the Federal Reserve Board proposed its initial ability-to-repay rule as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, no final rule has been adopted due in large part to the continuing debate over how to protect lenders...

Qualified Mortgage (QM) Rules: Why Getting A Mortgage In 2014 May Be Harder Than Ever

New Four Letter Word In the Mortgage Industry Say the word “QM” (short for Qualified Mortgage) to any mortgage banker these days, and watch their reaction. If they were smiling, they will stop. Better yet, lock the doors to prevent them from jumping off the nearest bridge. “QM”...