Wells Fargo, Bank of America, Quicken Loans, others want DTI requirement eliminated from QM lending rules

Four of the largest mortgage lenders in the country are leading a coalition that is calling on the Consumer Financial Protection Bureau to make to changes to the Ability to Repay/Qualified Mortgage rule. Specifically, the group, which includes Bank of America, Quicken Loans, Wells Fargo, and Caliber Home Loans, wants the CFPB to do away with the QM rule’s debt-to-income ratio requirement.

Original source: https://www.housingwire.com/articles/50119-wells-fargo-bank-of-america-quicken-loans-others-want-dti-requirement-eliminated-from-qm-lending-rules

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