Pub. 12 2015 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 10 A Colorado banker noted how his bank worked with a recently retired engineer with substantial liquidity and a generous, albeit time-limited pension. The Value of Telling Stories GOV. FRANK KEATING, PRESIDENT AND CEO American Bankers Association WASHINGTON UPDATE A stay-at-home mom goes through the pain of a divorce, resolved to provide as much stability for her kids as possible. She sets out to re-enter the work force and applies for a loan to purchase the familyhome, soherkidscanremaininthesameschools. Thebank wants to help, but because the woman cannot meet the ability to repay/qualifiedmortgage rule requirements, the loan is declined. An experienced doctor in Oklahoma with a substantial income wants to move his family to a neighborhood with better schools. Though he has been practicing for several years, he just purchased his own practice. Now, without a two-year history of self-employment income, he can’t qualify for long-term mortgage financ- ing. Another homeownership dream dashed by inflexible regulation. There are plenty more stories where those came from. In fact when the American Bank- ers Association recently asked bankers to share examples of the most troublesome regulations,