Mortgages, Mortgage Loan Originators, Ability-to-Repay

CFPB Revises Loan Originator Rule and HOEPA Rule Guides

Ballard Spahr LLP on 11/30/2018

The Consumer Financial Protection Bureau (CFPB) recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule....more

The Financial CHOICE Act, now closer to passage, would significantly impact the mortgage industry

Ballard Spahr LLP on 5/15/2017

On May 4 H.R. 10, the Financial CHOICE Act (the Act) introduced by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, obtained enough votes to move the bill on to the House of Representatives floor. The Act...more

CFPB Spring 2017 Supervisory Highlights focuses on mortgage origination/servicing, student loan servicing deficiencies, service...

Ballard Spahr LLP on 4/28/2017

The CFPB’s newly-released Spring 2017 edition of Supervisory Highlights covers supervisory activities generally completed between September and December 2016. The report indicates that supervisory resolutions resulted in...more

CFPB issues Fall 2016 Supervisory Highlights

Ballard Spahr LLP on 11/7/2016

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Federal Banking Agencies Issue Interagency Statement on Supervisory Approach to Qualified Mortgage Loans

Goodwin on 12/26/2013

The FDIC, OCC, NCUA and FRB issued an interagency statement on the supervisory approach to originating qualified mortgages under the CFPB’s ability-to-repay and qualified mortgage rule finalized in January 2013 and...more

CFPB Finalizes Amendments to Mortgage Rules

Ballard Spahr LLP on 9/19/2013

The Consumer Financial Protection Bureau (CFPB) has finalized several amendments and clarifications to the mortgage rules that had been proposed on June 24, 2013. The amendments include revisions to the CFPB's mortgage...more

CFPB Launches New Regulatory Implementation Page to Ensure Industry Is Ready to Comply With New Mortgage Rules

Foley & Lardner LLP on 6/27/2013

The Consumer Financial Protection Bureau (“CFPB”) recently announced that it has launched a Regulatory Implementation page that consolidates all of the new 2013 mortgage rules and related implementation materials....more

CFPB proposes further changes to mortgage rules

Ballard Spahr LLP on 6/26/2013

On Monday, the CFPB proposed additional changes to the mortgage rules adopted in January 2013. Comments on the proposed changes are due by July 22, 2013....more

CFPB Ability to Repay Rules Issued

Morrison & Foerster LLP on 1/29/2013

On January 10, 2013, the Consumer Financial Protection Bureau issued much-anticipated revisions to Regulation Z to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require lenders to...more

CFPB Proposes Amendments to New Final Ability-to-Repay Rule, Solicits Comment on Calculating Loan Originator Compensation

Foley & Lardner LLP on 1/28/2013

On January 10, 2013, the CFPB issued its final ability-to-repay rule (Rule), which implements Dodd-Frank mortgage reforms requiring creditors to make a reasonable and good faith determination that a consumer will have a...more

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