The leading issue facing mortgage brokers in California is the same as the one facing all industry practitioners nationwide, which is dealing with the latest interpretations of the qualified mortgage and qualified residential mortgage rules and what they mean for originators.

George Duarte, who was recently installed as president of the California Association of Mortgage Professionals, said in an interview with Origination News that one of the big items is finding out what QM’s 3% cap on points and fees actually includes so the industry can get a better handle on compensation.

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