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Thursday, February 7, 2013

Bankers Estimate Percentage of Mortgages Qualifying as ‘QM’

Based on what they’ve read about the new “qualified mortgage” rule, about 42% of bankers estimate that more than 80% of their current mortgage production would qualify as some form of QM, according to early results in the weekly ABA Center for Regulatory Compliance survey.

The early results also show that 17% of bankers believe between 66 and 80% of their mortgage production would meet QM standards, while about 13% estimate it’s between 50 and 65%, and 27% say it’s less than 50%.

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