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HUD Issued a Proposed Rule to Define a Qualified Mortgage
The proposed definition creates safe harbor and rebuttable presumption qualified mortgages (QM). CAMP has concerns in regards to the QM APR and the calculation of the 3% cap on points & fees. As CAMP's grassroots campaign persuade HUD to adopt appropriate changes, an industry standard related to QMs will begin to form. Of greatest importance, CAMP must protect the livelihood... Read More

Consumer Financial Protection Bureau Considers Rules to Simplify Mortgage Points and Fees
The Consumer Financial Protection Bureau (CFPB) recently outlined rules it is considering that would simplify mortgage points and fees and bring greater transparency to the mortgage loan origination market. These rules, which the CFPB expects to propose this summer and finalize by January 2013, would make it easier for consumers to understand mortgage costs and compare loans so they can choose the best deal... Read More