Lawmakers continue to probe potential QM impact

The Consumer Financial Protection Bureau’s ability-to-repay/qualified mortgage rule has been a prime topic of debate on Capitol Hill in recent weeks. On June 18, members of the House Financial Institutions and Consumer Credit Subcommittee convened for the second in a series of hearings, examining the rule’s impact on the availability of mortgage credit. Read on to learn what industry participants had to say about the rule’s impact on their ability to meet their Community Reinvestment Act and fair lending obligations.