With the CFPB’s mortgage rules scheduled to take effect in less than six months, more than 4,500 bankers have downloaded “A Strategic Guide to the ATR/QM Rules” -- the members-only publication ABA released last month for bank directors to inform strategic decision-making about the ability-to repay rule and Qualified Mortgage guidelines.
The guide, which was produced in partnership with the Dechert law firm, provides a legal framework for ATR implementation, summarizes the rules’ requirements and offers other strategic considerations. “The ATR/QM rules change the mortgage landscape,” said ABA EVP Bob Davis, one of the report's authors. “They present bank managers and directors with a range of novel challenges and opportunities that each bank will have to evaluate.”
ABA has also produced a telephone briefing on the guide, with an audio recording available for purchase.
View the guide.
Indicates ABA members-only material.
Not an ABA member?
Learn about the benefits of membership and ways to join here.