The CFPB’s ability-to-repay (ATR) rule became effective in January 2014. It requires mortgage lenders to determine during underwriting that a borrower has a reasonable ability to repay a loan according to its terms. ...more
On October 1, regulators including the CFPB sent a letter to mortgage industry trade groups regarding TRID. The letter states that...more
This past July marked the fifth anniversary of the creation of the Consumer Financial Protection Bureau (CFPB), a period marked by sweeping changes to the regulatory and administrative environment in which financial...more