January proved to be a significant month in the housing regulatory landscape, as the mortgage and real estate sector was hit with an abundance of new rules, one of which has stood out as having a major impact on the entire mortgage, real estate and settlement services industry. The Consumer Financial Protection Bureau’s ability-to-repay final rule was released on Jan. 10.
In response to the new ability-to-repay rule, which defines the controversial qualified mortgage (QM), Dodd Frank Update and sponsor North American Title Insurance Co. are hosting a 90-minute training webinar on the important pieces of the new rule and best practices for compliance. The webinar, which is Part 3 of the Dodd-Frank Webinar Series, will air Thursday, Feb. 14 at 2 p.m. ET.
Compliance attorneys Richard Andreano, a partner at Ballard Spahr LLP, and Jed Mayk, a shareholder at Stevens & Lee, will provide in-depth instruction on the important elements of the rule, including:
- How government regulators structured a QM;
- How to comply with the QM standard;
- Covered transactions and exceptions
- The impact of the new rule on the industry;
- Points and fees, loan originator compensation and affiliated business arrangements;
- Differences in the final rule compared with the proposal; and
- Best practices.
“From the debt-to-income ratio threshold to surprises in the final rule, such as the temporary category of QMs with more flexible underwriting requirements, this rule is sure to reshape the lending landscape in the United States,” said Nathan Marinchick, editor of Dodd Frank Update. “I encourage all those tied to the mortgage lending industry to set aside time now to understand the rule and all mortgage lending companies to begin plans for implementation. This webinar will provide the necessary training.”
Webinar participants will have an opportunity to ask questions and will receive the full PowerPoint presentation following the live event, along with related articles from Dodd Frank Update. Register for a live site and have your entire staff listen in and/or order the recording and view the webinar at your earliest convenience.
Join us! Register for this webinar at the October Store.
Or register today for the complete Dodd-Frank Series and save!
- Part 1: CFPB’s Supervision of Loan Originations (Recording available)
- Part 2: The New Age of the Whistleblower (Recording available)
- Part 3: Ability-To-Repay (QM) (Feb. 14)
About October Research LLC
Founded in 1999, October Research LLC is the nation’s leading provider of market intelligence, industry news and regulatory information for professionals in the real estate, settlement services and mortgage industries. Publications include The Title Report, The Legal Description, Valuation Review, RESPA News and Dodd Frank Update. Located in Richfield, Ohio, the company also produces educational seminars, webinars and live events, which can be purchased at www.OctoberStore.com.