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CFPB Releases Final Ability-to-Repay Guidelines
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.
NCSHA Submits Comments on Proposed Qualified Mortgage, Ability-to-Pay Regulation
On July 22, NCSHA submittedย commentsย to the Federal Reserve Board (the Fed) on itsย proposalย to amend Regulation Z and establish an ability-to-pay standard for mortgages under the Truth in Lending Act (TILA).ย
