Alert May 01, 2012

CFPB Deputy Director Remarks on Qualified Mortgage Rule

CFPB Deputy Director Raj Date spoke at the Greenlining Institute Conference about the Bureau’s focus on fairness, transparency and financial incentives in the mortgage regulation and enforcement context.  In discussing the qualified mortgage rule, Mr. Date stated that the CFPB is seeking in its rulemaking to reduce compliance burdens, ensure benefits to all interested parties and prevent disincentives that would “prevent lenders from making prudent, profitable loans in seemingly higher-risk or non-traditional segments – like loans to self-employed borrowers.” Click here for Mr. Date’s remarks.