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CFPB Reopens Ability-To-Repay Comment Period

Posted on 6/1/2012

The Consumer Financial Protection Bureau (CFPB) yesterday reopened to July 9 the comment period on the proposed ability-to-repay rule and its qualified mortgage (QM) designation to seek feedback on new data the Bureau received after the original comment period closed last July.

The CFPB received Federal Housing Finance Agency data that tracks the performance of Fannie Mae and Freddie Mac loans from 1997 to 2011, and it also obtained information on other securitized mortgage loans, the CFPB said.

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