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CFPB: How ATR/QM Rule has Adjusted Lending

Posted To: MND NewsWire

The Dodd-Frank Wall Avenue Reform and Purchaser Protection Act (Dodd-Frank Act) has a requirement that the Purchaser Economic Protection Bureau (CFPB), author of numerous of the procedures below the act, publish an assessment of its “significant procedures and orders” in 5 yrs of their successful day. Among the the procedures that CFPB has identified to fit that category are the Capacity-to-Repay/Skilled Home loan (ATR/QM) Rule and the Real Estate Settlement Procedures Act (RESPA) Home loan Servicing Rule. Both of those arrived into impact in January 2014 and assessment of both ended up printed this 7 days. What follows is a summary of the assessment of the Capacity-to-Repay/Skilled Home loan (ATR/QM) Rule. A summary of the RESPA Servicing rule will abide by at a afterwards day. The ATR/QM assessment seems to be at four wide classes…(study extra)

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