News & Analysis as of

Consumer Financial Protection Bureau Implements 'Ability to Repay' Regulations for Covered Mortage Loans

It is a widely understood that loose underwriting standards and practices by some creditors – including their abject failure in some instances to confirm their borrowers’ ability to repay mortgage loans – contributed in...more

CFPB Issues Small Entity Compliance Guide

The Consumer Financial Protection Bureau has issued a 45-page Small Entity Compliance Guide for the Ability-to-Repay (ATR) and Qualified Mortgage Rule. The guide, published on April 10, 2013, indicates that its purpose is to...more

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

Infobytes Special Alert: Detailed Analysis Of CFPB's Final Ability-To-Repay/Qualified Mortgage Rule

After considering a proposed rule and comments for more than a year and a half, the Consumer Financial Protection Bureau (the “Bureau”) has issued its highly anticipated final “Ability-to-Repay” rule (the “Rule”) governing...more

Special Alert: CFPB Issues Final Ability-To-Repay/Qualified Mortgage Rule

On January 10, the CFPB issued its keenly awaited final “Ability-to-Repay” rule under Regulation Z that will require lenders to verify a consumer’s ability to repay a mortgage loan as required by Sections 1411 and 1412 of the...more

CFPB’s Ability to Pay Rule

Last week, the Consumer Financial Protection Bureau (CFPB) issued its final Ability-to-Repay Rule (the Rule). The CFPB is also seeking comments on a concurrent proposal that would modify the ability-to-repay rule, which it...more

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

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

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

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

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (CFPB) released its final rule on the ability-to-repay requirements, including the definition of “Qualified Mortgage,” that was mandated by the...more

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

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

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

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

InfoBytes Special Alert: CFPB Issues Ability-To-Repay/Qualified Mortgage Rule

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its keenly awaited final "Ability-to-Repay" rule under Regulation Z that will require lenders to verify a consumer's ability to repay a mortgage loan as...more

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