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Ballard Spahr LLP: Temporary Exemptions Adopted for Mortgage Disclosures

By the Mortgage Banking Group As expected, on November 16, 2012, the Consumer Financial Protection Bureau adopted a temporary exemption for certain mortgage disclosure requirements added by the Dodd-Frank Act. This exemption will allow the disclosures to be implemented along with the proposal to integrate...

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...