CFPB moves to eliminate mortgage debt-to-income rule for borrowers
Heeding the call of some of the largest mortgage lenders in the industry, the Consumer Financial Protection Bureau (CFPB) is moving to back the elimination of debt-to-income (DTI) requirements in mortgage underwriting.
In a letter CFPB Director Kathy Kraninger sent to Congress today, the CFPB asked to amend the Ability to Repay/Qualified Mortgage rule (ATR/QM rule) in order to remove DTI as a qualifying factor in mortgage underwriting.
https://www.bankrate.com/mortgages/cfpb-debt-to-income-rule/amp/?__twitter_impression=true
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