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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 .