Title XIV rules: mortgage origination
As a result of Title XIV of the Dodd-Frank Wall Street Reform and Consumer Protection Act, we issued a number of rules on mortgage origination including Ability to Repay/Qualified Mortgages, HOEPA, and Loan Originator Compensation. Regulatory Implementation provides these resources because timely and efficient regulatory implementation of new rules is an important factor in delivering consumer protections to the market.
Rules and compliance guides
|
Link to the rule
|
Compliance guide
|
|---|---|
Quick references
- Fact sheet for small creditors operating in rural or underserved areas
- When is a creditor eligible to make different types of qualified mortgages?
- Executive summary of Rural-Small Interim Final Rule - March 22, 2016
- New rule summary: Amendments relating to small creditors and rural or underserved areas - Sept. 21, 2015
- Small creditor qualified mortgages flowchart
- Transaction coverage and exemptions for the 2013 mortgage origination rules
- Comparison of the general Ability-to-Repay requirements with the requirements for originating Qualified Mortgage loans
Supervision and examination materials
Our Supervision and Examination Manual is a guide to how we will supervise and examine consumer financial service providers under our jurisdiction for compliance with federal consumer financial law.
Our Readiness Guide provides guidelines for institutions to evaluate their readiness and help them comply with mortgage rule changes made through July 24, 2015.
Additional materials
Rural or underserved counties
Businesses that operate predominantly in rural or underserved counties are exempt from certain requirements.
Use our rural and underserved counties page to access lists of rural or underserved counties or tools that determine whether a property location is in such a county.
Lenders can use our find a housing counselor tool to meet RESPA requirements to generate a list of housing counseling agencies for each applicant.
Consumer handbooks
Booklets are available now for download and print orders.
Appendix Q
Among other criteria, “qualified mortgages” generally must possess a total monthly debt-to-income ratio (DTI) of no more than 43 percent . Regulation Z’s appendix Q contains detailed requirements for determining the “debt” and “income” factors in the calculation.