According to Ted Tozer, former Ginnie Mae president, lenders experienced aggressive disparate-impact litigation during the previous administration, resulting in initial support for revising the disparate impact rule.

Bank of America wrote policies between 2010 and 2016 that denied mortgages and HELOCs to adults with disabilities who were under legal guardianships or conservatorships.

The Federal Housing Finance Agency said it lacks sufficient data to create statistical models to “reflect economic conditions for 2021” because of the market disruption caused by the coronavirus.

The action doesn’t come as a total surprise. Industry attorneys said the CFPB, even under a business-friendly GOP, has been itching to do so for several years.

Canadian mortgages are remarkably short — just one to four years. The monthly payments, though, are comparable to American mortgages because the loans are still amortized over 25 to 30 years.

The new measures will help borrowers in COVID-19-related relief avoid foreclosures at the end of their forbearance period.

The Consumer Financial Protection Bureau has ratified all regulatory actions taken between Jan. 4, 2012, and June 30, 2020.

The agency announced an ambitious agenda of new rules on TRID, loan officer compensation and the ATR standards.

Mortgage firms need to reassess their fair lending programs to check for discrimination based on sexual orientation and gender identity, according to industry attorneys.

The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.