CoreLogic: Only half of today’s mortgage originations meet QM requirements

[Operator Instructions] As a reminder, today’s. that do not meet the qualified mortgage definition as defined by the CFPB, a variety of different loan types can be considered non-QM ranging from.

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A non-QM loan is not necessarily a high-risk loan, it’s merely a loan that doesn’t meet the QM standards. Examples of a non-QM loan include interest-only or limited/alternative documentation.

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A study released this week by mortgage data provider CoreLogic Inc. found that only half of home loans issued in 2010 met the requirements of the QM rule.

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· fha home loan guidelines and requirements FHA or the Federal Housing Administration is responsible for insuring mortgage loans offered by banks and lending institutions. In conventional mortgages, the insurance rates increase with a decrease in the credit score, while with FHA loans, such is not the case.

An analysis by mortgage data provider CoreLogic finds that while the early impact of the Consumer Financial Protection Bureau’s qualified mortgage rules will likely be blunted, only half of current originations would meet the general QM standard set forth in the bureau’s new ability-to-repay rule.