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Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) became law on July 21, 2010. The Dodd-Frank Act: restructured the oversight of financial regulation and included amendments to the Truth in Lending Act (TILA); established the “ability to repay” anti-predatory lending provisions, which resulted in the Qualified Mortgage (QM) rule; originated the Qualified Residential Mortgage (QRM) rule proposal, the final version of which relies on sound and responsible underwriting rather than on an onerous down payment requirement to qualify as a QRM loan.

March 27, 2015
On Thursday, March 26, 2015 The House Financial Services Committee passed H.R. 685, “The Mortgage Choice Act” with bipartisan support after an intense effort by NAR and coalition partners.
February 20, 2015
The New Year brought a slew of regulatory changes that impact the GSEs, FHA, VA, and the market in general.
February 6, 2015
On Tuesday, Feb. 3, 2015, H.R. 685 "The Mortgage Choice Act" was introduced in the House of Representatives.
November 26, 2014
This survey measures lender expectations of market conditions and capacity as well as current policy issues, including changes at the RHS and lending headwinds.
October 21, 2014
NAR applauds the Federal Deposit Insurance Corporation for finalizing the Qualified Residential Mortgage rule today.
October 21, 2014
The mortgage financing environment for households could improve as a result of QRM rules requiring no down payment, as NAR sought.
October 3, 2014
On Sept. 30, 2014, NAR wrote to Consumer Financial Protection Bureau (CFPB) director Richard Cordray expressing concern that the CFPB's guidance on mini-correspondent lenders realting to the Ability to Repay/Qualified Mortgage (QM) rule not be interpreted in a way that would reduce access to credit by unfairly discriminating against smaller lenders.
September 30, 2014
This survey highlights changes related to the QM rule, originators’ impressions of market dynamics, FHA, FHFA, and new credit scoring models.
September 19, 2014
On September 16, 2014, the House of Representatives passed H.R. 5461, a compendium of legislation that had already passed the House that includes H.R. 3211, The Mortgage Choice Act that addresses discrimination in the calculation of fees and points in the Qualified Mortgage Rule.
July 17, 2014
New QM rules make sense to protect the consumer, but can also give lenders pause.

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