New Home Mortgage Rules

On January 10 and January 18, 2014, new home mortgage rules became effective.  These rules are complex and voluminous.  They provide detailed regulation of a lender’s determination of the ability to repay loans, high rate home equity lines of credit (HOEPA), and appraisals. The Consumer Financial Protection Bureau has issued a number of compliance guides describing the new rules.  Click here to find more information on the Bureau’s website.