Gateway to Think Tanks
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.
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主题 | Finance ; Housing and Housing Finance ; Income and Wealth ; Race and Ethnicity |
URL | https://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 |
推荐引用方式 GB/T 7714 | Karan Kaul,Laurie Goodman,Jun Zhu. Comment Letter to the Consumer Financial Protection Bureau on the Qualified Mortgage Rule. 2019. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
comment_letter_to_th(426KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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