Regulatory Agencies Release Interagency Statement on Supervisory Approach for Qualified and Non-Qualified Mortgage Loans

The NCUA and three other federal regulatory agencies have released a Joint Interagency Statement on the Supervisory Approach for Qualified and Non-Qualified Mortgage Loans.

CFPB Issues Highly Anticipated Ability-to-Repay Mortgage Rule

A rule issued today by the CFPB today that protects consumers from certain irresponsible mortgage lending practices and requires lenders to ensure homebuyers will be capable of repaying the mortgage also includes some safe harbors and exemptions for credit unions.