MBA Comments on CFPB’s Qualified Mortgage Provisions

MBA Comments on CFPB’s Qualified Mortgage Provisions

Members of Media:

WASHINGTON, D.C. – July 10, 2012 – (RealEstateRama) — On Tuesday July 10, 2012, the Mortgage Bankers Association (MBA) submitted a comment letter to the Bureau of Consumer Financial Protection (CFPB) in response to the reopening of the comment period for the proposed rule to implement the Ability to Repay/Qualified Mortgage (QM) provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The letter outlines MBA’s views and recommendations as the CFPB undertakes further refinements.

The letter begins with MBA’s responses to the questions raised by the Bureau, then details the principles MBA supports to finalize the rule going forward.

If you have any questions, please contact Melissa Key at (202) 557-2799, or .

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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