News & Analysis as of

Ability-to-Repay Borrowers Underwriting

Mayer Brown

Self-Employed Borrower’s Income – Is the Past Necessarily Prologue?

Mayer Brown on

In a new era of double-digit unemployment resulting from the COVID-19 pandemic, it may be tough for a mortgage lender to predict the amount and stability of someone’s income in order to determine qualification for a home...more

Mayer Brown

Revising the Regulatory Definition of a Qualified Mortgage

Mayer Brown on

When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

Bradley Arant Boult Cummings LLP

A Deeper Dive: The CFPB Short-Term Small- Dollar Lending Rule

Introduction - By now you’ve likely heard that the Consumer Financial Protection Bureau (CFPB) has released a final small-dollar lending rule. The hallmark of the rule is the requirement That lenders make a reasonable...more

Snell & Wilmer

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

Snell & Wilmer on

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

Foley & Lardner LLP

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final ability to repay rule (Rule) on January 10, 2013. The Rule implements ability-to-repay provisions of the Dodd-Frank Act, which imposed strict underwriting...more

Troutman Pepper

CFPB Issues Final Ability To Repay Rule And ‘Qualified Mortgage’ Standard

Troutman Pepper on

On January 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule, as mandated by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), which requires mortgage lenders to consider...more

Ballard Spahr LLP

CFPB Final Ability-To-Repay Rule Prompts Cautious Optimism from Industry

Ballard Spahr LLP on

The CFPB has issued its long-awaited ability to repay/qualified mortgage rule, and at first glance, it appears to warrant cautious optimism for the mortgage industry....more

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