Reiterating arguments expressed by community banks and credit unions, the National Association of Hispanic Real Estate Professionals recently urged the Consumer Financial Protection Bureau to extend the use of the temporary provision allowing certain loans with high debt-to-income (DTI) ratios to be deemed qualified mortgages (QMs).
The group proposed an alternative model for granting QM status to high-DTI loans based on their Average Prime Offered Rate.
Learn more details about the group’s proposed plan.