The rule Breakdown of the document’s contents This document contains the following parts Preamble summarizing why we are issuing the rule our legal authority reasoning behind the rule responses to comments and analysis of the benefits costs and impacts of the rule Regulatory text

What You Need to Know about COPPA and the FTC's Proposed Rule Changes—Eric Bukstein

Reference materials Review our comparison chart.

What this means for consumers The new rule will go into effect on January 10, 2014.

This summary outlines some of the ways we expect it to impact consumers who have residential mortgage loans.

Download the consumer summary.

Proposals Concurrent proposal The CFPB is proposing to amend Regulation Z, which implements the Truth in Lending Act (TILA).

The Dodd-Frank Act requires creditors to make a reasonable, good faith determination of a consumer’s ability to repay any consumer credit transaction secured by a dwelling (excluding an open-end credit plan, timeshare plan, reverse mortgage, or temporary loan) and establishes certain protections from liability under this requirement for “qualified mortgages.

The Bureau is also seeking feedback on whether additional clarification is needed regarding the inclusion of loan originator compensation in the points and fees calculation.

You can also view, as individual documents, the concurrent proposal’s preamble.

Related proposals June 21, 2013: We issued a proposed rule with request for public comment that proposed certain amendments for several of the final mortgage rules we issued in January 2013.

This proposal was published in the Federal Register on July 2, 2013.

You can also review comments submitted on the electronic docket.

June 5, 2012: The Office of the Federal Register published a a notice reopening the comment period specifically for certain new data and information.

That notice, and comments received, are available online: Notice of Reopening of Comment Period to seek comment on certain new data and information submitted during or obtained after the close of the original comment period.

April 19, 2013: We issued a proposed rule with request for public comment that amends some of the final mortgage rules issued by the bureau in January of 2013.

Specifically, it amends this rule and the mortgage servicing rule.

April 30, 2014: We issued a proposed rule with a request for public comment that amends some of the mortgage rules issued by the bureau in 2013.

Specifically, it amends this rule and the mortgage servicing rule.

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"Qualified Mortgage Rules" What changes are coming in January 2014?!