With Congress (most notably the Senate) unable to reach consensus on the passage of any additional COVID-related economic relief, MBA sent a letter last Tuesday to the CFPB responding to the Bureau’s proposed rule revising the General QM definition. The letter explains MBA’s support for the price-based QM construct, and offers several recommendations to help ensure the rule meets its stated goals of robust consumer protections and broad access to sustainable credit.

As the U.S. economy works its way through the current pandemic and recession, housing has been a clear bright spot in an otherwise dire time. This week’s chart highlights the “V” shaped recovery exhibited by various measures of housing health.

The high buyer demand/rising prices drumbeat kept its rhythm into September as buyers scooped houses off the market at record rates, said Zillow, Seattle.

Good morning and happy Monday! Here at MBA we are excited that the autumn edition MBA LIVE, the association’s virtual conference series, continues this week with the MBA Risk Management QA & Fraud Prevention Forum takes place online this Tuesday, Sept. 15 and Wednesday, Sept. 16.