Earlier today, the Consumer Financial Protection Bureau (CFPB) released a final concurrent rule that exempts all loans made pursuant to HFA programs from the requirements of the bureau’s Ability-to-Repay/Qualified Mortgage (QM) rule.
Yesterday, President Obama signed into law the reauthorization of the Violence Against Women Act. Title VI of the Act includes a number of housing related provisions and expands the Act's applicability to affordable housing programs to include the Housing Credit.
On January 17, the Consumer Financial Protection Bureau released a final rule that sets new standards for how mortgage servicers handle borrower accounts and provide consumers information about their loans.
On January 10, the Consumer Financial Protection Bureau released its final rule increasing protections for consumers who take out high-cost mortgages.
On January 10, the Consumer Financial Protection Bureau (CFPB) announced the release of its final Ability-to-Repay rule, which outlines the steps lenders will be required to take to obtain and verify information to determine whether a consumer can afford to repay a mortgage.
On July 22, NCSHA submitted comments to the Federal Reserve Board (the Fed) on its proposal to amend Regulation Z and establish an ability-to-pay standard for mortgages under the Truth in Lending Act (TILA).