Special Update: Subcommittee Considers Impact of ATR/QM

2017-12-20T17:34:12+00:00 January 15th, 2014|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , |

The Ability-to-Repay (ATR) and the Qualified Mortgage (QM) rules are in effect as of January 10. It seems a little late, but yesterday a Subcommittee of the House Financial Services Committee held hearings to consider how the new rules will harm current and prospective homeowners. Representatives from the lending industry spoke about the limiting effect these rules will have on credit availability, especially on credit for low to moderate income borrowers. Committee members are considering proposed new laws to modify these rules.