Senate Democrats Warn Against CFPB's APOR Table Changes

Senate Democrats warn Trump administration against cutting weekly publication of APOR tables, crucial for the housing market. These tables set interest rate boundaries for qualified mortgages, protecting lenders and preventing risky loan products. Democrats fear lenders may stop offering loans to lower-income borrowers or increase interest rates, making homeownership more expensive. The CFPB plans to outline an alternative method for lenders to calculate APOR, but Democrats express skepticism about its effectiveness and safety.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.