CFPB Releases “Ability To Repay/Qualified Mortgage” Rule The CFPB introduced the long awaited “Ability To Repay/Qualified Mortgage” Rule along with new HOEPA, counseling and escrow rules.  This rule will be effective on January 10, 2014, and includes some surprises, such…

The CFPB has been extremely busy, recently issuing the following proposed rules relating to the mortgage business. In January, we expect to see much of what is in store!  The proposed rules noted below can be read in their entirety…

The CFPB has been extremely busy this summer, issuing the following proposed rules relating to the mortgage business:   Integrated Mortgage Disclosures under RESPA and TILA High-Cost Mortgage Amendments under TILA Loan Originator Compensation under TILA and Loan Originator Qualifications TILA…

The Consumer Financial Protection Bureau (“CFPB”) has released proposed rules introducing new RESPA/TILA combined disclosures and revising existing requirements regarding high-cost mortgage loans.  The “Loan Estimate” and “Closing Disclosure,” which consumers will receive after applying for a loan and before closing,…

FinCEN Publishes Final Rules Regarding Anti-Money Laundering Program and Suspicious Activity Reports for Non-Bank Residential Mortgage Lenders and Originators  The Financial Crimes Enforcement Network (“FinCEN”) issued final rules requiring non-bank residential mortgage lenders and originators to develop anti-money laundering programs…