I have not found this anywhere yet. Has anyone heard that they will be extending the deadline to comply with ATR for rural and underserved small servicers?

One more question, when determining the number of loans made in rural and underserved it is the number of loans, not dollar amount, correct?

No. Ask the LO to give you his source of information. If his information is not coming from the CFPB or the Federal Register, it's a rumor....much like the rumor (or wishful thinking) that DFA will be repealed. (Yes, I'm still hearing peeps around here say that DFA will be repealed. )

Rural/underserved is based on number of loans originated by the bank in rural/underserved areas, no more than 500 originations in a year total, and assets under 2B.

Great, thank you for all the help! :-)

What the CFPB has said is that dates will not be extended.

I was asked about this today as well. Someone indicated that they heard in a recent FDIC webinar that they said there would be a change on the enforcement dates of the ATR rules and that the change affected banks with 2B to 15B in assets. Anyone else hear that?

It's a well kept secret then and why in the world would they only carve out that section of the industry?? That portion of it doesn't make any sense.

I was able to track it down and the comment was misinterpreted. There is no change. Thanks!