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CFPB's Latest Underwriting Revamp Seen as Boon to Fintechs, GSEs, American Banker

September 02, 2020

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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