Loans, CFPB, Dodd-Frank | JD Supra Law News

More Paper? CFPB Revamps Disclosure and Delivery Requirements for Valuations under ECOA

by Nanci Weissgold, Kathryn Williams | K&L Gates LLP on 4/4/2013

Come January 2014, creditors will be required to equip borrowers with more information on how the value of the borrower’s home is determined, even if the creditor doesn’t use that information in making its lending decision....more

Loan Originator Compensation: New Rules

by Jonathan Foxx on 4/3/2013

On January 24, 2013, as the last of the Final Rules of the Consumer Financial Protection Bureau (CFPB) rolled out, I offered an outline of all of them, entitled "CFPB's Gang of Seven (Final Rules)".* I listed them in...more

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 3/26/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Members rushed out of town at the end of last week for a two-week...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

by Jeremiah Buckley, Joseph Kolar, John Kromer, Jeffrey Naimon, Joseph Reilly, Clinton Rockwell | BuckleySandler LLP on 2/15/2013

On January 10, 2013, the Consumer Financial Protection Bureau issued its final rule on escrow account requirements for first-lien higher-priced mortgage loans. The rule amends existing escrow requirements and exemptions for...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's High-Cost Mortgage Rule - January 25, 2013

by Joseph Kolar, John Kromer, Jeffrey Naimon, Joseph Reilly, Clinton Rockwell | BuckleySandler LLP on 1/25/2013

On January 10, 2013, the Consumer Financial Protection Bureau (the “Bureau”) issued a final rule (the “Rule”) that amends Regulation Z (Truth in Lending) to implement changes to the Home Ownership and Equity Protection Act...more

Burr Alert: New Qualified Mortgage Rules Released By The Consumer Finance Protection Bureau

by David Elliott, John Harrelson | Burr & Forman on 1/23/2013

Few would dispute that the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act or Act) has fundamentally altered the residential mortgage industry. Although the Act was passed just over three years ago,...more

Financial Services Bulletin: Action At The CFPB

by Perkins Coie on 1/18/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau ("CFPB") issued a final rule amending Regulation Z pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). ...more

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

by Michele Coffey, Kathleen Collins, Ivan Harris, Kenneth Kliebard, Christian Mixter, Tonya Oliver | Morgan Lewis on 1/17/2013

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

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

by Linda Ann Bartosch, Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Laurie Nelson, Thomas P. Vartanian | Dechert LLP on 1/16/2013

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

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

by Richard Eckman, Audrey Wisotsky | Pepper Hamilton LLP on 1/14/2013

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

by Richard J. Andreano, Jr., John D. Socknat, Michael S. Waldron | Ballard Spahr LLP on 1/14/2013

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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Loans › Consumer Financial Protection Bureau › Dodd-Frank Wall Street Reform and Consumer Protection Act