General World News

Senators urge CFPB to “reconsider” QM delay

Compliance attorneys and mortgage industry lobbyists aren’t the only ones wishing the Consumer Financial Protection Bureau (CFPB) would proceed with the General Qualified Mortgage Final Rule as it had initially planned.

The same day the CFPB announced plans to delay the compliance date, Sens. Mark Warner (D-VA) and Tim Scott (R-SC) fired off a letter to CFPB Acting Director Dave Uejio, urging the agency to “reconsider” the move.

“We urge the Bureau to allow the General QM Final Rule to proceed as intended and commit to a longer-term approach to monitoring the broader housing details ⇒

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