News & Analysis as of

Foreclosure › Ability-to-Repay

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Williams Mullen

First Round of ATR Cases Goes to Banks

Williams Mullen on

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

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - January 14, 2013

Orrick, Herrington & Sutcliffe LLP on

In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...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

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