On September 30, 2014 NAR sent a letter to the Consumer Financial Protection Bureau to make some key points about the agency's guidance and rules and the fair treatment of smaller lenders. Fair treatment of these lenders is essential so that they too may provide access to credit. Some of the guidance could be construed so as to limit smaller lenders ability to provide loans that are considered qualified mortgages (QM).
Download Letter Here
NAR Letter to CFPB Driector Cordray on Mini-Correspondents
Issue Date: September 30, 2014
On September 30, 2014 NAR sent a letter to the Consumer Financial Protection Bureau to make some key points about the agency's guidance and rules and the fair treatment of smaller lenders. Fair treatment of these lenders is essential so that they too may provide access to credit. Some of the guidance could be construed so as to limit smaller lenders ability to provide loans that are considered qualified mortgages (QM).
Download Letter Here