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Borrowers › Ability-to-Repay › Truth in Lending Act (TILA)

Morgan Lewis

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

Morgan Lewis on

Rule lists criteria that lenders must consider in determining a prospective borrower has the ability to repay a loan and defines Dodd-Frank's concept of a "qualified mortgage." On January 10, the Consumer Financial...more

Dechert LLP

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

Dechert LLP on

Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...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

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