Ballard Spahr LLP: CFPB Moves to Broaden Scope of ‘High-Cost’ Mortgages

By Mercedes Kelley Tunstall The Consumer Financial Protection Bureau is moving to broaden the scope of mortgages that would be viewed as "high cost" and therefore subject to special disclosure requirements. In a notice of proposed rulemaking issued on July 9, 2012, the CFPB proposed amendments...

Williams Mullen: Proposed Rules Published on Dodd-Frank Requirements for HOEPA Loans

On August 15, 2012, the Bureau of Consumer Financial Protection (the "Bureau") issued a proposed rule and request for public comment on changes to its Regulation Z (Truth in Lending) and Regulation X (Real Estate Settlement Procedures Act) to implement the requirements of the Dodd-Frank Wall...

Ballard Spahr LLP: High-Cost Loan Final Rule Temporarily Averts FHA Loan Crisis

By Richard J. Andreano, Jr. , John D. Socknat , and Michael S. Waldron On January 10, 2013, the CFPB issued a final high-cost loan rule under Dodd-Frank that includes a modified version of a proposal that will temporarily avoid a crisis with FHA loans. The final rule also implements homeownership...