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CFPB Issues Compliance Guides for ATR/QM and Escrow Rules

Posted on 4/25/2013

On April 10, the CFPB published two compliance guides to help small entities with (1) the ability to replay/qualified mortgage rule, and (2) the escrow rule, which were finalized on January 10 of this year.

These guides provide an accessible and comprehensible summary of each of the rules, and highlight issues that small creditors and their business partners might find helpful to consider when implementing each rule.

According to the CFPB, these guides meet the requirements of Section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996, which requires that CFPB issue a small-entity compliance guide to help small businesses comply with these new regulations. Although the guides offer a comprehensive overview of each of the final rules, the CFPB warns that it is not meant to be a substitute for the rules themselves, or the official Interpretations.

To view the guide for the ATR/QM rule visit:

To view the guide for the escrow rule visit:

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