Lenders Seek Congressional Approval for No Income Mortgages. The mortgage lending industry seeks to eliminate debt-to-income rules for home buyers.

https://moneymaven.io/mishtalk/econo...P0ibhDOQZpyrkw

The move by Kraninger is by request of a group of lenders and industry groups, including Wells Fargo, Bank of America, Quicken Loans, Caliber Home Loans, the Mortgage Bankers Association, the American Bankers Association, the National Fair Housing Alliance, and others.

The finance leaders want to remove the 43 percent DTI requirement on both prime and near-prime loans.

Specifically, current rules includes things like verification of income, credit history and DTI, among others. The only portion the CFPB is asking to amend is the DTI requirement.