FDIC Ability-to-Repay and Qualified Mortgages Rule Videos Updated

The FDIC announced the release of their updated technical assistance videos on the Ability-to-Repay and Qualified Mortgages Rule in their Financial Institution Letter FIL-56-2016 dated August 17, 2016.  The updated videos reflect changes in federal laws and regulations since they were originally released in 2014. Among other things, the updated videos reflect changes with respect to “small creditors” and operations in “rural” areas, including the Consumer Financial Protection Bureau’s March 22, 2016, Interim Final Rule implementing statutory changes enacted as part of the Fixing America’s Surface Transportation Act (PL 114-94).

The updated Ability-to-Repay and Qualified Mortgages videos can be accessed at: https://www.fdic.gov/regulations/resources/director/technical/atr.html.