News & Analysis as of

Qualified Mortgage Rule Loans Ability-to-Repay

Alston & Bird

Evaluating the CFPB’s Proposed Delay of the QM Rule: Timing Considerations

Alston & Bird on

A&B ABstract: The CFPB must finalize its proposed QM delay rule in April, likely leaving no room for delay. Background on ATR/QM and the Delay Rule - On March 3, 2021, the Bureau of Consumer Financial Protection (CFPB)...more

Orrick - Finance 20/20

CFPB Issues Two Final Rules to Promote Access to Responsible, Affordable Mortgage Credit

Orrick - Finance 20/20 on

On December 10, the Consumer Financial Protection Bureau (CFPB) issued two final rules related to qualified mortgage (QM) loans. The first final rule, the General QM Final Rule, replaces current requirements for measuring a...more

Mayer Brown

Revising the Regulatory Definition of a Qualified Mortgage

Mayer Brown on

When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

Ballard Spahr LLP

CFPB Seeks Comment on Replacing Temporary GSE Patch Under Ability to Repay Rule

Ballard Spahr LLP on

The CFPB recently issued an advance notice of proposed rulemaking (ANPR) requesting comments on how to revise the qualified mortgage (QM) provisions of the Regulation Z ability to repay rule in view of the impending...more

Ballard Spahr LLP

CFPB issues final 2014 list of rural or underserved counties

Ballard Spahr LLP on

The CFPB has released a final list of “rural” or “underserved” counties for use in 2014. The CFPB has indicated that creditors may rely on this list as a safe harbor to determine whether a county is “rural” or “underserved”...more

Dechert LLP

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

Dechert LLP on

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

Burr & Forman

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

Burr & Forman on

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

Perkins Coie

Financial Services Bulletin: Action At The CFPB

Perkins Coie on

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

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

Orrick - Finance 20/20

CFPB Rules on Ability-to-Repay and Qualified Mortgages

Orrick - Finance 20/20 on

On January 10, the CFPB issued a final rule, effective January 10, 2014, requiring mortgage lenders to consider consumers’ ability to repay mortgage loans and regarding the “qualified mortgage” (QM) definition....more

Troutman Pepper

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

Troutman Pepper on

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

Ballard Spahr LLP

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

Ballard Spahr LLP on

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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