Items Tagged with 'Ability to Repay'

ARTICLES

CFPB preps to review major mortgage rules

Falls under Dodd-Frank requirement
January 2018 marks five years since the Consumer Financial Protection Bureau finalized the qualified mortgage rule. The five-year anniversary means more than a landmark date of a major regulation though, as it also means the bureau is required to reassess its major mortgage rules. Will the CFPB use this process to change the mortgage market again?
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From HW Magazine

Don't call it a comeback -- because it's not

A real restart for private-label RMBS issuance faces a daunting set of obstacles
A financial industry publication recently reported, “Carrington Mortgage, Citadel Servicing and New Penn Financial are planning securitizations of newly originated subprime mortgages.” The publication went on to say in breathless tones that “[t]he offerings, on the slate for 2014, would confirm recent predictions that deals would soon start flowing in the asset class…”
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Lenders receive compliance guidance

MBA Education releases ATR/QM resource guides
The Mortgage Bankers Association Education released a compliance guide to help explain the Ability to Repay and Qualified Mortgage rule, which includes information for basic training for staff and operational rule requirements.
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