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Tuesday
Dec102013

What's New? New ATR/QM Rules for Mortgage Lenders

DateTuesday, December 10, 2013 at 10:45AM by AuthorBanking Spectrum

The CFPB recently issued new Ability-to-Repay (ATR) and Qualified Mortgage (QM) rules for financial institutions that originate closed-end residential mortgage loans.

See the new section in The Gold Book, Ability-to-Repay and Qualified Mortgage Rule in the Truth in Lending (Regulation Z) section for details. 

For a guide to help financial institutions determine compliance oblications for mortgage loans, click here.

 

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