A CFPB final rule that amends the definition of "General Qualified Mortgage" to replace the 43 percent debt-to-income ratio limit with price-based thresholds was published in the Federal Register.
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The CFPB adopted two final rules relating to the definition of qualified mortgages, which will expand the scope of the definition and the types of mortgages that government-sponsored enterprises may purchase.
The largest nonbank mortgage servicer in the United States reached concurrent settlements with the CFPB, state attorneys general and state bank regulators concerning allegations of unfair and deceptive mortgage loan servicing practices.
The CFPB sued an online lender for violations of the Military Lending Act in connection with the extension of consumer credit to active-duty service members and their dependents.
The CFPB extended its comment deadline for proposed amendments that would establish a new category of "qualified mortgages."