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来源类型Public Comment
规范类型评论
Comment Letter to the Consumer Financial Protection Bureau on the Qualified Mortgage Rule
Karan Kaul; Laurie Goodman; Jun Zhu
发表日期2019-09-17
出版年2019
语种英语
概述The January 2021 GSE patch expiration is an opportunity to update the qualified mortgage (QM) rule to make it work better for future borrowers. Evidence presented in this brief shows that the debt-to-income (DTI) ratio is a weaker predictor of default than other risk measures and that its centrality to the current QM rule distorts the market by misrepresenting true loan risk. We recommend that the Consumer
摘要
The January 2021 GSE patch expiration is an opportunity to update the qualified mortgage (QM) rule to make it work better for future borrowers. Evidence presented in this brief shows that the debt-to-income (DTI) ratio is a weaker predictor of default than other risk measures and that its centrality to the current QM rule distorts the market by misrepresenting true loan risk. We recommend that the Consumer Financial Protection Bureau, accordingly, eliminate the DTI cap from the current QM framework. Restrictions on risky features and products should remain in place. As today, rate spread should continue to determine which loans qualify for safe harbor although the rate spread threshold should be increased from 150 to 200 basis points.
主题Finance ; Housing and Housing Finance ; Income and Wealth ; Race and Ethnicity
URLhttps://www.urban.org/research/publication/comment-letter-consumer-financial-protection-bureau-qualified-mortgage-rule
来源智库Urban Institute (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/480737
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GB/T 7714
Karan Kaul,Laurie Goodman,Jun Zhu. Comment Letter to the Consumer Financial Protection Bureau on the Qualified Mortgage Rule. 2019.
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