Amendments to the 2013 Mortgage Rules Under the Truth in Lending Act (Regulation Z); Small servicer definition
The Bureau of Consumer Financial Protection (Bureau) is amending certain mortgage rules issued in 2013. The final rule provides an alternative small servicer definition for nonprofit entities that meet certain requirements and amends the existing exemption from the ability-to-repay rule for nonprofit entities that meet certain requirements. The final rule also provides a cure mechanism for the points and fees limit that applies to qualified mortgages.
Final rule; Official Interpretations
Read it on the Federal Register