On June 1, 2023, the Consumer Financial Protection Bureau along with Federal Reserve, OCC, FDIC, NCUA and FHFA (collectively, the “Agencies”) issued a Notice of Proposed Rulemaking seeking comment on rules to implement...more
6/16/2023
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FHFA ,
Mortgage Loan Originators ,
NCUA ,
Non-Discrimination Rules ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Proposed Rules ,
Quality Control Plan ,
Underwriting ,
Valuation
Changes are coming in 2021 to the eligibility requirements for “Qualified Mortgage” or “QM” loans. The Ability-to-Repay/Qualified Mortgage Rule administered by CFPB (“ATR/QM Rule”) requires a creditor to make a reasonable,...more