CHLA Joins Broad Coalition in CFPB Letter Outlining Proposal to Preserve QM Ability to Repay, With Appropriate Flexibility

CHLA joined with a broad coalition including the National Association of Realtors, consumer groups, USMI, and other small lender groups in offering a proposal to retain essential elements of the QM Ability to Repay standard, but with a more flexible Debt to Income (DTI) which includes other underwriting criteria in the form of Compensating Factors