News

The CFPB's New Mortgage Rules and the RMBS Litigation Landscape

June 12, 2013
New York Office and via Webinar
Arnold & Porter LLP 399 Park Avenue
New York, NY
10022

The Consumer Financial Protection Bureau (CFPB) recently issued new mortgage rules implementing sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act. One of the new rules requires lenders to assess consumers' ability to repay home loans before extending credit and provides a safe harbor and a presumption of compliance with the ability-to-repay requirement for so-called "qualified mortgages." The CFPB also announced new mortgage servicing rules and rules concerning the compensation and qualification of loan originators, among other mortgage-related rules. In this Roundtable, our panelists will summarize the new rules and the impact they may have on financial institutions, lenders, and loan originators. Among the issues we will discuss are:

• Ability-to-repay and qualified mortgage rule
• Mortgage servicing rule
• Loan originator compensation rule
• CFPB's implementation plan for the new rules
• Common misconceptions
• Impact of the new rules

Moreover, RMBS litigation is at an all time high with issues related to origination, offering, and servicing of loans.  Claims range from federal securities law violations to common law fraud to breach of contractual servicing standards and representations and warranties.  This panel will discuss those matters and what developments are anticipated as we look forward. 

Email Disclaimer