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Minorities Feel Strain in Manufactured Housing — RISMedia

Consumers looking to purchase manufactured homes may face higher interest rates, risks and barriers to credit and minorities are feeling it the most. A new Consumer Financial Protection Bureau (CFPB) report discusses these challenges. The takeaway: While manufactured housing or modular homes make up a small segment of the overall real estate housing supply, affordability must […] ....

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CFPB Delays QM Rule Compliance and Patch Demise


CFPB Delays QM Rule Compliance and Patch Demise
Apr 28 2021, 9:29AM
Lenders will have
more than an additional year to
comply with the General Qualified Mortgage (QM) Rule. The Consumer Financial
Protection Bureau (CFPB) says it is formally delaying the mandatory compliance
date for the new rule from July 1, 2021 to October 1, 2022. The Bureau says it
is taking the action to help ensure access to
responsible, affordable mortgage credit, and preserve flexibility for consumers
affected by the COVID-19 pandemic and its economic effects.
The delay will also
give lenders more
time to use the so-called GSE Patch. The Patch provides QM status to loans that ....

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