HUD releases its version of the QM rule

10/1/2013 | AmericanBanker.com (free registration) · Housing Wire

A qualified-mortgage rule that the Department of Housing and Urban Development proposed Monday largely follows the criteria that the Consumer Financial Protection Bureau set forth in its version. However, HUD's rule does not require the borrower to have a debt-to-income ratio of 43% or less, and it sets up two categories offering different protections based on annual percentage rates.

View Full Article in:

AmericanBanker.com (free registration) · Housing Wire

Published in Brief: