It’s the week we have all been waiting for, well, some of us anyway. Rumor has it that the CFPB is going to issue at least one mortgage rule this week. This will be the first of many rules we anticipate to be issued this month related to mortgages.
It is not clear yet which rule is going to be issued. There has been talk that it might be the Ability to Repay rule (aka the Qualified Mortgage rule) or the servicing rule. The CFPB is being very secretive about which rule it will release (so much for transparency). So, keep your eyes and ears open, and get ready because here we go!
Note: If you are wondering what else the CFPB might do in 2013, check out their regulatory agenda. Keep in mind that these dates can change.