United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2013_register executive 2013-06-12 article Part III Rules and Regulations D09002ee1c7fb5faa D09002ee1c7fb6095 United States Bureau of Consumer Financial Protection originator org United States Government Agency or Subagency The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z generally prohibits a creditor from making a mortgage loan unless the creditor determines that the consumer will have the ability to repay the loan. The final rule provides an exemption to these requirements for creditors with certain designations, loans pursuant to certain programs, certain nonprofit creditors, and mortgage loans made in connection with certain Federal emergency economic stabilization programs. The final rule also provides an additional definition of a qualified mortgage for certain loans made and held in portfolio by small creditors and a temporary definition of a qualified mortgage for balloon loans. Finally, the final rule modifies the requirements regarding the inclusion of loan originator compensation in the points and fees calculation. 78 FR 35430 https://www.govinfo.gov/app/details/FR-2013-06-12/2013-13173 2013-13173 fr12jn13-13 RIN 3170-AA34 4810-AM-P Docket No. CFPB-2013-0002 https://www.govinfo.gov/app/details/FR-2013-06-12/2013-13173 https://www.govinfo.gov/content/pkg/FR-2013-06-12/html/2013-13173.htm https://www.govinfo.gov/content/pkg/FR-2013-06-12/pdf/2013-13173.pdf Advertising Consumer Protection Mortgages Reporting and Recordkeeping Requirements Truth in Lending 77 p. 35430 35506 78 FR 35430 Title 12 Part 1026 12 CFR Part 1026 RIN 3170-AA34 Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z); Federal Register Vol. 78, Issue RULE 2013-13173 III BUREAU OF CONSUMER FINANCIAL PROTECTION 2014-01-10 Docket No. CFPB-2013-0002 4810-AM-P 2013-13173 Final rule; official interpretations.

The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z generally prohibits a creditor from making a mortgage loan unless the creditor determines that the consumer will have the ability to repay the loan. The final rule provides an exemption to these requirements for creditors with certain designations, loans pursuant to certain programs, certain nonprofit creditors, and mortgage loans made in connection with certain Federal emergency economic stabilization programs. The final rule also provides an additional definition of a qualified mortgage for certain loans made and held in portfolio by small creditors and a temporary definition of a qualified mortgage for balloon loans. Finally, the final rule modifies the requirements regarding the inclusion of loan originator compensation in the points and fees calculation.

This rule is effective January 10, 2014. Jennifer B. Kozma or Eamonn K. Moran, Counsels; Thomas J. Kearney or Mark Morelli, Senior Counsels; or Stephen Shin, Managing Counsel, Office of Regulations, at (202) 435- 7700. 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Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2013-06-12 P0b002ee184fba617 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr12jn13 https://www.govinfo.gov/app/details/FR-2013-06-12 https://www.govinfo.gov/content/pkg/FR-2013-06-12/pdf/FR-2013-06-12.pdf https://www.govinfo.gov/content/pkg/FR-2013-06-12/xml/FR-2013-06-12.xml fdlp 35101 35543 DGPO 2013-06-12 2024-06-03 FR-2013-06-12 machine generated eng FR FR-2013-06-12 78 113