NAR Support Letter to House Financial Services Regarding H.R. 2445 Self-Employed Mortgage Access Act
Issue Date: November 13, 2019
US HR 2445 - Self-Employed Mortgage Access Act
On November 13, NAR sent a letter to the full House Financial Services Committee. The letter expresses support for H.R. 2445, the Self-Employed Mortgage Access Act. REALTORS® believe homeownership is an integral part of the American Dream and that the qualified mortgage (QM) rule should be flexible enough to adopt to changing life patterns and not out of reach for individuals and families that lack traditional income documentation. Simultaneously, the rule must provide originators with clarity needed to underwrite mortgages within the letter of the law in order to maintain safety and soundness in the mortgage ecosystem.