SFIG Submits Comments to CFPB on Ability to Repay/Qualified Mortgage Rule

Responding to a Request for Comment (RFC) published by the Consumer Financial Protection Bureau (CFPB), SFIG submitted a letter detailing industry-wide compliance issues and requesting clarification around a number of topics related to the requirements of the CFPB's Ability to Repay/Qualified Mortgage Rule. The letter focused on discrete questions of interpretation of Appendix Q, assessing borrower income, and on the implementation of the Temporary GSE Patch. SFIG would like to thank all members involved in drafting, commenting, and reviewing the RFC submission, and we look forward to continuing our engagement with regulators and legislators on this important topic.

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