The Consumer Financial Protection Bureau (CFPB) has issued two notices of proposed rulemaking (NPRMs) to amend the Ability to Repay/Qualified Mortgage (ATR-QM) Rule. The first NPRM would extend the sunset date for a temporary category of qualified mortgages sometimes referred to as the temporary Government Sponsored Enterprise (GSE) qualified mortgage category or as the GSE Patch.
The second NPRM would amend the definition of a permanent category of qualified mortgages sometimes referred to as the general qualified mortgage category. It is available here. The Bureau has provided unofficial redlines illustrating the changes that the NPRMs would make to the ATR-QM Rule and a summary of the proposed changes.
AFSA is reviewing the NPRMs to determine next steps.
The Consumer Financial Protection Bureau (CFPB) has issued two notices of proposed rulemaking (NPRMs) to amend the Ability to Repay/Qualified Mortgage (ATR-QM) Rule. The first NPRM would extend the sunset date for a temporary category … Read the rest
AFSA’s federal government affairs team continued to be highly effective in advocating for the protection of consumer credit and choice in 2019. Below are just a few of the 2019 federal successes.
Rate Caps: Prevented legislation extending… Read the rest
The chief executives of five auto finance lenders, representing captives and major banks, will participate in a panel discussion next week at AFSA’s annual Vehicle Finance Conference, capping off three days of deep dives and 30,000-foot… Read the rest
As 2018 continues to tick down toward the new year, we edge closer to the premier event for the vehicle financing community. The 2019 AFSA Vehicle Finance Conference & Expo will be held from January 22-24, 2019 at the Hilton Union Square… Read the rest
