CoreLogic: Only half of today’s mortgage originations meet QM requirements

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According to Federal Reserve data, because of QM, ‘roughly one-third of black and Hispanic borrowers would not meet the requirements of a QM loan.’ Mr. Chairman, one-third. CoreLogic, which analyzes mortgage data has said ‘only half of today’s mortgage originations meet QM requirements.’

An analysis by mortgage data provider CoreLogic finds that while the early impact of the Consumer Financial Protection Bureau’s qualified mortgage rules will likely be blunted, only half of current originations would meet the general QM standard set forth in the bureau’s new ability-to-repay rule.

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According to new research by CoreLogic, only half of today’s mortgage would pass muster with the CFPB’s qualified mortgage standards. roughly half of today’s mortgage originations do not meet the standards of the Consumer Financial Protection Bureau’s qualified mortgage rule, according to analysis by CoreLogic.

It is estimated that only 52 percent of originations will meet the eligibility requirements of the QM rule’s safe harbor. That tidbit was turned into headlines such as HousingWire’s "Only half of today’s mortgage originations meet QM requirements" and DSNews’s "CoreLogic: QM, QRM Rules Remove 60% of Loans, but 90% of the Risk." Wow.

CoreLogic: Only half of today’s mortgage originations meet QM requirements – By Kerri Ann Panchuk – Housingwire -. Once the qualified mortgage rule is combined with the prudential regulators final implementation of the qualified-residential mortgage rule , the guidelines will remove 60% of what is currently originated in today’s.

A non-QM loan still needs to satisfy the ATR requirements. The non-QM market is expanding (up by 1 percentage point from 2017 to 2018) and represented about 4 percent of 2018 originations.

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Therefore no reader of this document should rely on these statements being current as. GSE Financial Requirements under which a mortgage insurer’s "Available Assets" (generally only the most liquid.

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Lenders Can Actually Benefit from Non-QM Lending -CoreLogic.. and Qualified Mortgage (QM) standards that are due to go into effect on january 10.. mortgage rates moved down today by varying.

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