ScholarLens Back to search
2016•Unpublished venueRequires access

The Effect of New Mortgage-Underwriting Rule onCommunity (Smaller) Banks’Mortgage Activity

David Vera

Open publisher page 0 citations

Abstract

The Consumer Financial Protection Bureau (CFPB), government agency created through the Dodd Frank Act, enacted the Ability-to-Repay (ATR) and Qualified Mortgages (QM) rule in January 2014. Using a new survey on Community banks from 2014 and Home Mortgage Disclosure Act Data (HMDA) for the years 2011-2014, I look at the effect of the ATR/QM rule on mortgage origination. From the survey responses, we infer that community banks in the sample expected and increase in compliance costs, and a possible decrease in mortgage origination. However, analysis of the HMDA suggests that the ATR/QM rule has not disrupted community banks mortgage origination.

About this research paper

What this paper is about

The Consumer Financial Protection Bureau (CFPB), government agency created through the Dodd Frank Act, enacted the Ability-to-Repay (ATR) and Qualified Mortgages (QM) rule in January 2014. Using a new survey on Community banks from 2014 and Home Mortgage Disclosure Act Data (HMDA) for the years 2011-2014, I look at the effect of the ATR/QM rule on mortgage origination. From the survey responses, we infer that community banks in the sample expected and increase in compliance costs, and a possible decrease in mortgage origination. However, analysis of the HMDA suggests that the ATR/QM rule has not disrupted community banks mortgage origination.

Why it matters

A significance statement is not available in the OpenAlex record.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

The Consumer Financial Protection Bureau (CFPB), government agency created through the Dodd Frank Act, enacted the Ability-to-Repay (ATR) and Qualified Mortgages (QM) rule in January 2014. Using a new survey on Community banks from 2014 and Home Mortgage Disclosure Act Data (HMDA) for the years 2011-2014, I look at the effect of the ATR/QM rule on mortgage origination. From the survey responses, we infer that community banks in the sample expected and increase in compliance costs, and a possible decrease in mortgage origination. However, analysis of the HMDA suggests that the ATR/QM rule has not disrupted community banks mortgage origination.

Key concepts: Underwriting, Mortgage underwriting, Origination, Business, Shared appreciation mortgage, Mortgage insurance, Government (linguistics), Agency (philosophy)

Related papers

Related paper 1Related paper 2Related paper 3
Back to paper searchBrowse research topicsOriginal source
The Effect of New Mortgage-Underwriting Rule onCommunity (Smaller) Banks’Mortgage Activity — Research Paper | ScholarLens