White Paper

6 Pages
  • 6 Pages

CFPB Assesses Ability to Repay/Qualified Mortgage Rule


Recent report gathered from multiple sources.

The Consumer Financial Protection Bureau released a report that encompassed the assessment of the 2013 Ability-to-Repay and Qualified Mortgage Rule. The evaluation administered was conducted pursuant to the Dodd-Frank Act, which calls for the CFPB to examine any significant rule it releases and gauge whether the rule is effective in accomplishing its designed objectives. This white paper reviews the information gathered to create this report.



Richard J. Andreano

Richard J. Andreano

Ballard Spahr LLP

  • Partner at Ballard Spahr LLP
  • Practice leader, Mortgage Banking Group, Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA: America's Leading Lawyers for business, banking and finance: financial services regulation: consumer finance (compliance), national ranking, 2014 to 2017
  • Wrote MBA Compliance Essentials Loan Originator Compensation Resource Guide™, published by the Mortgage Bankers Association
  • Co-wrote, MBA Compliance Essentials TILA/RESPA Integrated Disclosure TRID Rule Resource Guide™, published by the Mortgage Bankers Association
  • Editor-in-chief, Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; author of chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-author of the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsels clients on residential mortgage regulatory matters, including ability to repay, TILA/RESPA integrated disclosure (TRID) rule, CFPB and other regulator supervision and examination, UDAAP and other Dodd-Frank matters
  • Frequent speaker and author on mortgage industry issues
  • Can be contacted at 202-661-2271 or [email protected]
Pavitra (Pavy) Bacon

Pavitra (Pavy) Bacon

Ballard Spahr LLP

  • Senior associate in the Washington, DC office of Ballard Spahr LLP
  • Practice emphasizes all aspects of consumer financial services and mortgage banking
  • Author of several publications related to the area of consumer and mortgage lending compliance
  • Chair, Consumer Finance Committee, D.C. Bar Litigation Section; Women in Housing and Finance; South Asian Bar Association; DC Capital Pro Bono Honor Roll; Super Lawyers Rising Star
  • J.D. degree, American University, Washington College of Law
  • Can be contacted at [email protected] or 202-661-2295

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