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How the CFPB Can Turn Restrictive Mortgage Rule Into a Win for All

American Banker

Jeremiah S. Buckley

Several recent reports in American Banker reflect widespread concern among both lenders and consumer advocates that the Qualified Mortgage Rules being developed by the CFPB, while well intentioned, could significantly impact the availability and price of home mortgage credit.

The CFPB may want to consider supplementing the AM rule by promulgating an alternative Dynamic Disclosure process, described below, which could serve as a safety valve to relieve pressures on the market if the QM rule were to prove to be too restrictive.

Originally published in American Banker, October 2012.

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