Commentary: QM rules will hurt customers, industry

01/13/2013 | AmericanBanker.com (free registration)

The Consumer Financial Protection Bureau's qualified-mortgage rule, with its 43% debt-to-income ratio, is flawed and will have a negative impact on house prices and borrowers by limiting innovation and preventing the industry from meeting the unique needs of customers, writes Clifford Rossi of the University of Maryland. The rule "winds up being an example of where poor industry practices lead to well-intended but suboptimal regulatory outcomes," he writes.

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