Archive: 2 May 2014

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CFPB Proposes “Points and Fees” Cure for Qualified Mortgages

CFPB Proposes “Points and Fees” Cure for Qualified Mortgages

By: Kristie D. KullyEric Mitzenmacher

The Consumer Financial Protection Bureau issued a proposed rule requesting public comments on several amendments to its recent mortgage regulations under the Truth in Lending Act (“TILA,” as amended by the Dodd Frank Act). One of those amendments would, if finalized, allow creditors a limited opportunity to “cure” a loan that inadvertently exceeds the three percent limit on points and fees for qualified mortgages (“QMs”). Read More

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