Relevant:
- Consumer bureau lays out new mortgage-lending standards - The Hill's On The Money
- CFPB Issues Additional Clarifications to Final Rules
- Letter to Cordray Requests Industry Input into Qualified Mortgage
- Letter to Cordray Requests Industry Input into Qualified Mortgage
- CFPB gives banks tips for currying its favor
2013-01-07 — bloomberg.com
Banks including PNC Financial Services Group Inc. (PNC), SunTrust Banks Inc. (STI) and BB&T Corp. (BBT) are pushing the U.S. Consumer Financial Protection Bureau to give them a year to comply with new mortgage underwriting rules that could be released as early as this week.
The consumer bureau's so-called qualified mortgage regulation, which requires lenders to ensure a borrower's ability to repay, will be released in connection with a hearing in Baltimore scheduled for Jan. 10, according to two people briefed on the plans.
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