Blog

Starting January 10, lenders will be required to make a reasonable, good-faith determination that a borrower can afford to repay a mortgage. That’s a common-sense policy that responsible lenders have already been following for decades – and this month it will be the law.

Recently, we released the Ability-to-Repay rule designed to protect consumers from irresponsible lending and begin to lay the framework for stability in the mortgage market. This week, we issued an implementation plan to help ensure the industry effectively and efficiently puts these new protections into place, with the understanding that our rule should not unduly […]