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#1818292 - 05/29/13 06:50 PM Amendment to Ability to Repay
Still Smiling Offline
Platinum Poster
Joined: Nov 2007
Posts: 767

See the press release to learn more about Ability-to-Repay, Qualified Mortgages, and the new amendments:
consumerfinance.gov/pressreleases/cfpb-finalizes-amendments-to-ability-to-repay-rule

Thank you,
The Consumer Financial Protection Bureau
Last edited by Still Smiling; 05/29/13 06:51 PM.
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Ability to Repay/Qualified Mortgage Rule
#1818360 - 05/29/13 08:24 PM Re: Amendment to Ability to Repay Still Smiling
Reads Regs Offline
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Joined: Nov 2004
Posts: 2,292
I think this is the link to follow. http://www.consumerfinance.gov/pressreleases/cfpb-finalizes-amendments-to-ability-to-repay-rule/

The ATR final rule to address the concurrent proposal is 279 pages in non-Federal Register format. The revised text of the regulation is on pages 261 - 279.
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1818602 - 05/30/13 02:53 PM Re: Amendment to Ability to Repay Still Smiling
ahou Offline
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ahou
Joined: Aug 2002
Posts: 3,094
For the temp small creditor portfolio exemption, it appears that the bank would not have to use the "max pmt scheduled during the first 5 yrs" in calculating a mthly pmt for a 5 yr balloon, correct?
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