SR 13-20 / CA 13-23 Interagency Statement on Supervisory Approach for Qualified and Non-Qualified Mortgage Loans


Federal Reserve Bank of San Francisco

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December 18, 2013

On Friday, December 13, 2013, the Federal Reserve issued SR 13-20 / CA 13-23, which transmits the attached interagency statement that clarifies safety-and-soundness expectations and Community Reinvestment Act (CRA) considerations for regulated institutions engaged in residential mortgage lending in light of the Consumer Financial Protection Bureau’s (Bureau) Ability-to-Repay and Qualified Mortgage Standards Rule (Ability-to-Repay Rule).