Proposed Clarifications of the Ability-to-Repay / Qualified Mortgage and Mortgage Servicing Rules

Author(s): Federal Reserve Bank of San Francisco

On April 19, 2013, the Consumer Financial Protection Bureau (CFPB) issued a proposal to clarify certain provisions of the Ability to Repay / Qualified Mortgage and Mortgage Servicing Rules. The proposal is in response to questions the CFPB received since the rules were issued in January 2013.