Paul Ryan: We will try to get QM delayed

Julie C. Nichols General

HousingWire – Jacob Gaffney

Not ten minutes after I watched Paul Ryan debate the Obama administration’s troubled launch of with Health and Human Services Secretary Kathleen Sebelius on CNN, Ryan strode into a lunch with roughly 30 of the nation’s lenders. The lunch, put together at the Capitol Hill Club by DocuTech and Stearns Lending, gave Ryan a chance to do what he could to reassure these creditors that he intends to fight burdensome regulations. He took particular pause when discussing the Consumer Financial Protection Bureau’s plans for the qualified mortgage rule and safe harbor.

This is a man who wasn’t just briefed on an issue; he knows his stuff. "In my state, up to 75% of mortgages won’t qualify under QM," he said, pushing his unfinished salad aside and grabbing a pack of Sweet’N Low for his iced tea. "Community banks, they all think they’ll get sued."

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