Cordray Downplays Potential Litigation Risk from QM Rule

Davidson, Kate
September 2012
National Mortgage News;9/24/2012, Vol. 36 Issue 51, p1
Trade Publication
The article focuses on a testimony by Richard Cordray, director of the U.S. Consumer Financial Protection Bureau ion which he suggested that lenders should not be too much concerned about potential legal liability for making qualified mortgages. He also said that the agency is considering two alternative protections for lenders that make such loans and under one plan, lenders will be completely safe from lawsuits while the other would allow borrowers to sue lenders for underwriting mistakes.


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