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Tuesday, July 30, 2013

More than 4,500 Download ABA Guide to ATR/QM Rules

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.
Read more.


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