The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains a requirement that the Consumer Financial Protection Bureau (CFPB), author of many of the rules under the act, publish an assessment of its "significant rules and orders" within five years of their effective date. Among the rules that CFPB has determined to fit that category are the Ability-to-Repay/Qualified Mortgage (ATR/QM) Rule and the Real Estate Settlement Procedures Act (RESPA) Mortgage Servicing Rule. Both came into effect in January 2014 and assessment of both were published this week. What follows is a summary of the assessment of the Ability-to-Repay/Qualified Mortgage (ATR/QM) Rule. A summary of the RESPA Servicing rule will follow at a later date. The ATR/QM assessment looks at four broad categories;

January 11, 2019 Download our Mobile App: Download our Mobile App: Housing News CFPB: How ATR/QM Rule has Changed Lending The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains a requirement that the Consumer Financial Protection Bureau (CFPB), author of many of the rules under the act, publish an assessment of its "significant rules and... (read more) Housing News Prepayment Rate Shrinks, Composition Shifts The November Mortgage Monitor from Black Knight focused largely on the shifting of the mortgage market toward purchase originations and the unexpected expansion of the refinancing pool due to recent interest rate drops, but it also had an interesting... (read more) MBS Commentary MBS Live Day Ahead: Does Inflation Still Matter? Today's Consumer Price Index was one of the week's only " important " pieces of economic data.  Or perhaps we should say it was one of the week's only 'big-ticket' reports in the sense that it has been one of the bigger market movers among most ... (read more) Mortgage Rate Watch Mortgage Rates Hold Steady Despite Market Weakness Mortgage rates were unchanged again today, despite moderate weakness in underlying bond markets. Bonds are the primary ingredient used in determining mortgage rates, but the timing of market movement and lender preferences can result in discrepancies... (read more) Housing News Credit Access Takes a Hit as HARP Expires Credit availability suffered an unusually large decline in December. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) fell 7.3 percent to 175.0 in December (it was 188.8 in November.) A decline in the MCAI ind... (read more) MBS Commentary MBS Live Recap: Bonds End Weaker as Stocks Threaten a Breakout It's hard to fault the bond market for any trading over the past several days.  The data and the movement in other markets have both suggested bond market weakness fairly clearly.  Despite that, the weakness has been reasonably well contain... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.89 -0.04 Price / Yield Change MBS UMBS 5.5 98.91 -0.02 UMBS 6.0 100.56 +0.00 GNMA 5.5 99.54 -0.03 GNMA 6.0 100.69 -0.02 Pricing as of: 11/15 3:18AM EST 10 Year US Treasury 4.4503 +0.0115 Price / Yield Change US Treasury 2 YR Treasury 4.337 -0.013 5 YR Treasury 4.325 -0.002 7 YR Treasury 4.389 +0.002 10 YR Treasury 4.445 +0.007 30 YR Treasury 4.602 +0.019 Pricing as of: 11/15 3:18AM EST Latest Video Warning sign for rates? Regulators ask financial firms to work with those affected by shutdown Newly built home sales fall in California Around the Web Calculated Risk Blog Update on Shutdown impact on January Employment Report; Congress Approves Back Pay for Furloughed Employees Bloomberg It's Definitely Risk On': Rush to Bond Market Begins in U.S. Calculated Risk Blog Q4 GDP Forecasts: Mid-to-High 2s, Estimate of Shutdown Impact on GDP CNBC New home sales tank 19 percent to end 2018 Calculated Risk Blog Key Measures Show Inflation about the same in December as in November on YoY Basis consumerfinancemonitor.com New York enacts amendments addressing collection of family member debts Reuters U.S. consumer prices post first drop in nine months CNBC US Treasury yields edge lower after Powell comments NPR Some Mortgage Deals Are In Limbo As Government Shutdown Drags On Calculated Risk Blog BLS: "Does the partial government shutdown impact BLS data or release dates?" Reuters Fed's Powell again stresses patience as U.S. economy's 'narrative' unfolds NAR - Realtor.com Rents Are Too High: Where Tenants Can Score the Bestand WorstDeals Calculated Risk Blog Fannie Mae and Freddie Mac: Mortgage Serious Delinquency Rate Declined in November

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