Final rules

Amendments to exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.

The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to create a new category of QM loans (Seasoned QM loans) for first-lien, fixed-rate covered transactions that have met certain performance requirements, are held in portfolio by the originating creditor or first purchaser for a 36-month period, comply with general restrictions on product features and points and fees, and meet certain underwriting requirements.

This final rule amends the General QM loan definition in Regulation Z. Among other things, the final rule removes the General QM loan definition’s 43 percent DTI limit and replaces it with price-based thresholds.

Based on the CPI-W in effect as of June 1, 2020, the exemption threshold will remain at $27,200, effective Jan. 1, 2021.

Based on the annual percentage increase in the CPI-W as of June 1, 2020, the exemption threshold will remain at $58,300 effective January 1, 2021.

The Bureau amends Regulation Z to replace the January 10, 2021 sunset date of the Temporary GSE QM loan definition with a provision stating that the Temporary GSE QM loan definition will be available only for covered transactions for which the creditor receives the consumer’s application before the mandatory compliance date of final amendments to the General QM loan definition in Regulation Z.

This rule amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Act.

This rule requires a creditor to make a reasonable, good faith determination of a consumer’s ability to repay a residential mortgage loan according to its terms.

The Bureau is issuing this interpretive rule to provide guidance about the way in which it determines which counties qualify as underserved for a given calendar year.

This interim final rule provides a regulatory exception for certain programs that allow borrowers to defer repayment of forborne or delinquent amounts that accrued due to the COVID-19 emergency.

The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to provide guidance to creditors and other covered persons involved in the mortgage origination process in light of the COVID-19 pandemic.

The final rule adjusts Regulation C’s institutional and transactional coverage thresholds for closed-end mortgage loans and open-end lines of credit.

The Bureau is amending the official commentary that interprets the requirements of the Bureau’s Regulation Z (Truth in Lending) to reflect a change in the asset-size threshold for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November.

The Bureau of Consumer Financial Protection (Bureau) is issuing a final rule amending the official commentary that interprets the requirements of the Bureau's Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

This interpretive rule construes Regulation Z, which implements the Truth in Lending Act (TILA).  

The Bureau is amending Regulation C to extend to January 1, 2022 the threshold of 500 open-end lines of credit for reporting data about open-end lines of credit and to incorporate into Regulation C the partial exemptions created by the Economic Growth, Regulatory Relief, and Consumer Protection Act.

The Bureau is issuing an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which amended certain provisions of the Home Mortgage Disclosure Act. 

The Bureau is amending Federal mortgage disclosure requirements under RESPA and TILA that are implemented in Regulation Z. 

The Bureau of Consumer Financial Protection (Bureau) issued a rule amending certain Regulation Z mortgage servicing rules issued in 2016 relating to periodic statements.  These amendments revise the timing requirements for servicers transitioning between modified or unmodified periodic statements and coupon books in connection with a consumer’s bankruptcy case.

The Bureau is publishing a Federal Register notice pursuant to section 706(e) of the Equal Credit Opportunity Act concerning the update of the redesigned Uniform Residential Loan Application (URLA) to include an applicant language preference question.

The Bureau issued an interim final rule amending a provision in Regulation X that it issued in 2016 relating to the timing for mortgage servicers to provide modified written early intervention notices to borrowers who have invoked their cease communication rights under the Fair Debt Collection Practices Act.

The Bureau of Consumer Financial Protection is issuing a final rule that amends Regulation B to permit creditors additional flexibility in complying with Regulation B in order to facilitate compliance with Regulation C, adds certain model forms and removes others from Regulation B, and makes various other amendments to Regulation B and its commentary to facilitate the collection and retention of information about the ethnicity, sex, and race of certain mortgage applicants.

The Bureau is making various amendments to federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act that are implemented in Regulation Z.  

The Bureau is making several technical corrections to a final rule it issued on Aug. 4, 2016 amending certain of the Bureau’s mortgage servicing regulations under Regulation X (implementing the Real Estate Settlement Procedures Act) and Regulation Z (implementing the Truth In Lending Act) (2016 Final Rule).

This notice is issued pursuant to section 706(e) of the Equal Credit Opportunity Act and concerns the new Uniform Residential Loan Application and the collection of expanded Home Mortgage Disclosure Act information about ethnicity and race in 2017.