Morgan Lewis of counsel Eamonn Moran was quoted in an American Banker article about the Consumer Financial Protection Bureau (CFPB) proposal to create a new category of “qualified mortgage” loans intended to protect lenders from legal liability. In the article, Eamonn discussed the implications for fintech companies, noting “[H]ere is a recognition by the CFPB leadership that to try to accommodate some of the fintech players and other creditors that are relying on alternative sources of income, 36 months is a good seasoning period to show whether somebody can repay a mortgage or not."
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