The Consumer Financial Protection Bureau today announced updates to its rulemaking agenda for 2019. Significantly, the bureau said that it is considering initiating a rulemaking or issuing guidance to address the interplay between Regulation Z and requirements under the Electronic Signatures in Global and National Commerce Act.
Browsing: Ability to Repay and Qualified Mortgage
In recent years, nonbanks have made major inroads into sectors like the single-family mortgage market, where they now originate more than half of loans.
As policymakers pursue housing finance reform, ABA President and CEO Rob Nichols joined the heads of four housing trade associations in calling for “thoughtful and balanced” changes.
Banks want to expand safe and sound lending across the board and remain committed to enhancing the availability of credit to all qualified borrowers.
ABA joined a broad coalition of financial industry stakeholders, civil rights groups and other advocacy organizations in a letter to the Consumer Financial Protection Bureau today offering feedback on the expiration of the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
Non-QM mortgage loans are gaining traction, but the category still carries heightened risks.
The Consumer Financial Protection Bureau announced 2020 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act.
The Consumer Financial Protection Bureau today issued an advance notice of proposed rulemaking seeking feedback on the upcoming expiration of the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.