News Topic: ATR

The agency is sending a strong message that it won’t rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders. ... Read full article

Industry groups are calling on the consumer bureau to eliminate the debt-to-income limit for “qualified mortgages” and provide a short-term extension of special treatment for Fannie- and Freddie-backed loans. ... Read full article

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules. ... Read full article

Consumer Financial Protection Bureau Directors Kathy Kraninger is under pressure to ask a federal judge to lift a stay that has kept the agency's short-term-lending rule from going into effect. ... Read full article

Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule. ... Read full article

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying. ... Read full article

With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start. ... Read full article

Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains. ... Read full article

The mortgage industry was caught off guard by regulators’ decision to cease special treatment for Fannie Mae and Freddie Mac in complying with underwriting rules. But how big of an impact will the new policy have? ... Read full article

The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well. ... Read full article

The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply. ... Read full article

As required by the Dodd-Frank Act, the bureau released long-awaited "look-back" reviews to assess the impact of mortgage underwriting and servicing rules on the industry and the credit markets. ... Read full article