Thread Options
#2067426 - 03/03/16 08:44 PM CFPB Rural Appeal Process
Carter'sMom Offline
Junior Member
Joined: Aug 2015
Posts: 38
So to qualify for the appeal process in the final rule published by the CFPB yesterday, the creditor would still have to meet the asset test, is that correct? I want to make sure I am thinking correctly that an institution over $2 Billion in assets would not be eligible for this exemption.

Return to Top
Ability to Repay/Qualified Mortgage Rule
#2067759 - 03/07/16 02:20 PM Re: CFPB Rural Appeal Process Carter'sMom
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,557
Cape Cod
Approximately correct. The asset cap is slightly more than $2 billion. It varies annually based on CPI changes. In 2016, and in 2017 for applications received before April 1, 2017, the cap is $2.052 billion.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top