8 Basic Requirements of the Ability to Repay Mortgage Rule

Regardless of whether you believe that the so-called Great Recession was caused by reckless and irresponsible mortgage lending or government perversion of free markets by encouraging banks to make risky mortgage loans to people with questionable credit and practically no down payment or a combination of the two, one thing is irrefutable;

The government has created a whole new bureaucracy called the Consumer Protection Financial Bureau (CFPB) whose authority is far reaching and made possible by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).


  1. […] years prior pull-through rates have plummeted in 2014 due to new rules from Washington such as the Ability to Pay and Qualified Mortgage […]

  2. […] impact on a purchasers ability to obtain a mortgage. New mortgage lending rules such as the Ability to Pay Rule and the Qualified Mortgage Rule which were enacted by Congress in 2010 and kicked in in January of […]