The Consumer Financial Protection Bureau (CFPB) is working on a qualified mortgage rule that will allow the mortgage market to meet the needs of borrowers “throughout the credit cycle,” agency chief Richard Cordray said in new testimony Tuesday morning.  

“We will seek to define those loans known as qualified mortgages carefully so that as the market stabilizes, every segment of the market is competitive and has the benefit of sufficient investor appetite to ensure liquidity,” Cordray told a House Oversight Committee.   

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