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CFPB Finalizes Changes to Mortgage Rules Under The Truth in Lending Act

The Consumer Financial Protection Bureau (CFPB) is amending certain mortgage rules issued in 2013. The amendments include two changes that will help certain nonprofit organizations continue to provide mortgage credit and servicing to underserved populations. The changes also lay out limited circumstances where lenders that exceed the points and fees cap can pay a refund of the excess amount plus interest to consumers and still have their loan be considered a Qualified Mortgage. For further details, please click here.

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