fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107

APPLY NOW!

Mortgage Industry News

« Return to Mortgage Industry News

CFPB: How ATR/QM Rule has Changed Lending

Friday, January 11, 2019

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains a requirement that the Consumer Financial Protection Bureau (CFPB), author of many of the rules under the act, publish an assessment of its "significant rules and orders" within five years of their effective date.  Among the rules that CFPB has determined to fit that category are the Ability-to-Repay/Qualified Mortgage (ATR/QM) Rule and the Real Estate Settlement Procedures Act (RESPA) Mortgage Servicing Rule.  Both came into effect in January 2014 and assessment of both were published this week.

 

Read Full Article

Testimonial

The SmithBrandt team was very patient, helpful with explaining terms of everything for first time home buyers. They have great service in terms of patience and helpfulness. There is a "family" feeling as opposed to a big business feeling."
Ian & Madison C.