From the Archives: June 2013

Final Rules Amending the Ability-to-Repay and Qualified Mortgage Standards Under TILA 

On May 29, the CFPB issued final rules amending the Ability-to-Repay rules issued in January. The amendments include an exemption for certain nonprofit and community-based creditors from the ability-to-repay requirements, an amendment to facilitate lending by certain small creditors in a variety of ways and an amendment establishing how to calculate loan origination compensation for Qualified Mortgage points and fees.

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