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FormFree Founder Brent Chandler Commends CFPB Proposal to Eliminate DTI, Citing Ability to Pay as a ‘Best Consumer Borrowing Risk Indicator’
ATHENS, Ga., Jan. 24, 2020 (SEND2PRESS NEWSWIRE) -- FormFree Founder and CEO Brent Chandler today responded to this week's news that Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger indicated the bureau's decision to propose amending the Ability to Repay/Qualified Mortgage Rule so as to "move away" from debt-to-income (DTI) calculations as a mortgage underwriting factor.
OpenClose, an enterprise-class end-to-end loan origination system, successfully implements QM and ATR Rules
PALM BEACH, Fla. /Florida Newswire/ -- OpenClose, an enterprise-class end-to-end loan origination system provider, today announced that is has implemented the functionality necessary for lenders to adhere to the Consumer Financial Protection Bureau's new Qualified Mortgage (QM) and Ability-to-Replay rules. The company's client base is successfully processing QM loans.