Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Date: 8/19/2013

Regulatory Practice Letter #13-17 

CFPB Finalizes Additional Amendments to Rules Governing Ability-to-Repay and Mortgage Servicing Standards
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The Bureau of Consumer Financial Protection (“CFPB” or “Bureau”) released a final rule on July 10, 2013 that imposes additional amendments to its January 2013 final rule implementing the Ability-to-Repay (ATR) and Qualified Mortgage (QM) provisions (ATR/QM Rule) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) as well as its January 2013 Mortgage Servicing Standards rules and its January 2013 Escrows Rules