Safe Harbors Mortgages

News & Analysis as of

U.S. House of Representatives Passes Several Financial Regulatory Relief Bills, Including TRID Safe Harbor

On October 7, the U.S. House of Representatives (U.S. House) passed several pieces of bipartisan legislation aimed at providing regulatory relief to lenders and strengthening consumer protection. This legislation included...more

House Passes Bill to Delay TRID

On October 7, 2015, the U.S. House of Representatives passed a bill that would provide a safe harbor from the new TILA/RESPA Integrated Disclosure (TRID) rule for a period of five months. By a vote of 303 to 121 the House...more

CFPB Finalizes Rule Allowing Small Creditors to Increase Lending in Rural and Underserved Areas

On September 21, the CFPB issued a final rule, amending certain mortgage rules and comments relating to lending activities by small creditors in rural and underserved areas. Initially proposed in January 2015, the final rule,...more

No deference for CFPB amicus brief from Ninth Circuit

Many readers probably remember Edwards v. First American Financial Corp. for its ill-fated journey to the U.S. Supreme Court. The Supreme Court had granted certiorari to decide the issue of whether a plaintiff who brings a...more

Against the Tide: A New Take on RESPA’s Section 8(c)(2) Safe Harbor by the CFPB

Grab a flotation device – the final decision recently issued by Director Richard Cordray of the Consumer Financial Protection Bureau (“CFPB”) in the administrative enforcement proceedings against PHH Corp....more

Points & Authorities - Spring 2015

In this Issue: - Negotiating Strategies for the Successful Sale of Technology Companies - Broker Beware: Are Real Estate Brokers Susceptible to Agent v. Agent Fee Splitting Disputes After Sanowicz v. Bacal? -...more

Financial Regulatory Developments Focus - February 2015

In this issue: - US Federal Deposit Insurance Corporation Issues Proposal Revising Provisions of Securitization Safe Harbor Rule - US Federal Deposit Insurance Corporation Issues Proposal Amending Regulations...more

Massachusetts Adds “Borrower’s Interest” Safe Harbor For QM Loans

Recently, the Massachusetts Division of Banks published final amendments to its regulation concerning documentation and determination of borrower’s interest to establish an additional safe harbor for any home loan that meets...more

BankinBits First Quarter Recap

The BankinBits blog, which discusses recent developments in the banking industry, has within the first quarter of 2014 addressed a diverse range of topics including banking services for the marijuana industry, the shuttering...more

Editorial: Fla.'s 'Safe Harbor' Most Litigators Are Not Familiar With

First mortgage lenders acquiring title to collateral consisting of condominium units or homes in a homeowners community are afforded protection against assessment liability under both the Florida Condominium Act (Chapter 718...more

HUD issues proposed rule on qualified mortgage definition for HUD insured and guaranteed single family mortgages

As anticipated, HUD recently issued its proposed rule defining a qualified mortgage (QM) for HUD insured and guaranteed single family mortgages. Under the proposed rule, published in the Federal Register on Monday, Title II...more

Eleventh Circuit Affirms TILA’s Safe Harbor Exception Applies To Servicer Seeking To Foreclose

On July 29, the U.S. Court of Appeals for the Eleventh Circuit held that a mortgage servicer moving to foreclose on borrowers pursuant to an assignment from the lender’s nominee was exempt from TILA’s debt ownership...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - August 2, 2013


Virginia Financial Institutions - June 2013

In this issue: - CFPB Amends Ability-to-Repay Rule to Ease Standards for Small Creditors - Assistant Managers Fail to Break the Piggy Bank...For Now - Federal Agencies Make Changes to Regulation...more

CFPB settles RESPA enforcement action involving affiliated business arrangements

The CFPB has announced the settlement of an enforcement action in which it was alleged that two affiliated business arrangements (ABAs) violated Section 8 of the Real Estate Settlement Procedures Act....more

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

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

U.S. Consumer Financial Protection Bureau Seeks Comments to Proposed Amendments to the Ability-to-Repay Requirements and Qualified...

The U.S. Consumer Financial Protection Bureau (the “Bureau”) has released a proposal (the "Proposal") to amend the Bureau's recently issued final rules (the “Rules”) on the definition of a qualified mortgage (“QM”) and the...more

CFPB Ability to Repay Rules Issued

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

Infobytes Special Alert: Detailed Analysis Of CFPB's Final Ability-To-Repay/Qualified Mortgage Rule

After considering a proposed rule and comments for more than a year and a half, the Consumer Financial Protection Bureau (the “Bureau”) has issued its highly anticipated final “Ability-to-Repay” rule (the “Rule”) governing...more

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

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

Special Alert: CFPB Issues Final Ability-To-Repay/Qualified Mortgage Rule

On January 10, the CFPB issued its keenly awaited final “Ability-to-Repay” rule under Regulation Z that will require lenders to verify a consumer’s ability to repay a mortgage loan as required by Sections 1411 and 1412 of the...more

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

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

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

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

InfoBytes Special Alert: CFPB Issues Ability-To-Repay/Qualified Mortgage Rule

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its keenly awaited final "Ability-to-Repay" rule under Regulation Z that will require lenders to verify a consumer's ability to repay a mortgage loan as...more

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