CFPB Finalizes Modifications to Mortgage Rules

On Friday, the Consumer Financial Protection Bureau (CFPB) finalized amendments and clarifications to its January 2013 mortgage rules in order to help industry comply and to better protect consumers.  Among these rules, the Ability-to-Repay rule requires lenders to make a reasonable, good-faith determination that prospective borrowers have the ability to repay their loans.  The adjustments made Friday answer questions identified during the implementation process.  Read more

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