Banks are looking at a regulatory plan to dramatically expand the data collected on mortgages as a potential ally in their battle to ease separate rules that they say will curb access to credit.

On its face, the Consumer Financial Protection Bureau's announcement that it was considering going beyond Dodd-Frank Act requirements to collect more mortgage data may be viewed by some institutions as burdensome. Yet the data the CFPB will potentially seek—whether a loan meets the criteria to be considered a qualified mortgage—could be beneficial as they attempt to prove to the agency that the definition is too stringent. Ultimately, some hope the extra data could force the CFPB to allow more loans to qualify for QM status.

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