"We're not worried at this point whether the president or somebody at the White House says, 'we recommend a veto,'" said Sen. Richard Shelby, R-Ala.
Despite a strong industry push, a bill to amend the Consumer Financial Protection Bureau's "qualified mortgage" rule is facing an uphill battle to enactment this year.
"This will be a much more labor-intensive regulation to prepare for — much more than the qualified mortgage rule — because of all the data fields," said Matthew Abbink, VP at CU Members Mortgage.
In less than four months, mortgage providers across the nation must be ready to meet new disclosure requirements.
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