Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.
Financial Institution Letter

Ability-to-Repay and Qualified Mortgages Rule Videos Updated

Summary:

As part of the FDIC's Community Banking Initiative, the FDIC is announcing the release of updated technical assistance videos on the Ability-to-Repay and Qualified Mortgages Rule. The updated videos provide financial institution management, compliance officers, and staff with resources for a better understanding of the current requirements of the Ability-to-Repay and Qualified Mortgages Rule.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

  • To assist institutions with their compliance efforts, the FDIC is issuing updates to its technical assistance videos for the Ability-to-Repay and Qualified Mortgages Rule.
  • The updated videos reflect changes in federal laws and regulations since the videos were originally released by the FDIC in 2014.
  • Among other things, the updated videos reflect changes with respect to "small creditors" and operations in "rural" areas, including the Consumer Financial Protection Bureau's March 22, 2016, Interim Final Rule implementing statutory changes enacted as part of the Fixing America's Surface Transportation Act (PL 114-94).
  • The updated Ability-to-Repay and Qualified Mortgages videos can be accessed at: https://www.fdic.gov/regulations/resources/director/technical/atr.html

Distribution:

  • FDIC-Supervised Institutions

Suggested Routing:

  • Chief Executive Officer
  • Chief Compliance Officer
  • Chief Loan Officer

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).


Additional Related Topics:

  • Dodd-Frank Wall Street Reform and Consumer Protection Act
  • Truth in Lending Act (Regulation Z)
FIL-56-2016

Last Updated: August 17, 2016