CFPB

In order to provide additional clarification on the recently issued CFPB mortgage reforms, IBAT Regulatory Compliance Manager Kelly Goulart is releasing a series of white papers addressing each change contained in the seven major mortgage lending initiatives, six of which have been finalized by the CFPB (more or less).  

The third part of the series, focused on the Ability to Repay (ATR) and Qualified Mortgage (QM) rules, is now available on the IBAT website. 

In order to provide additional clarification on the recently issued CFPB mortgage reforms, IBAT Regulatory Compliance Manager Kelly Goulart is releasing a series of white papers addressing each change contained in the seven major mortgage lending initiatives, six of which have been finalized by the CFPB (more or less).  

It
is certain that the new mortgage lending compliance requirements issued by the
CFPB will have a considerable impact upon community banks across Texas.
 Of the seven major mortgage lending compliance initiatives required under
Dodd-Frank, six have been finalized. Three of the four have an exemption either

Click here for full American Banker article.

The Consumer Financial Protection Bureau is
targeting large banks and a wide variety of nonbanks rather than
community banks, a regional director of the bureau said last week.