Credit unions respond to CFPB reports on ATR/QM and RESPA Mortgage Servicing Rules

January 10, 2019


CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642;  

Washington, D.C. (January 10, 2019) – The Consumer Financial Protection Bureau (CFPB) today released assessment reports on its Ability-to-Repay and Qualified Mortgage (ATR/QM) rule and the mortgage servicing rule issued under the Real Estate Settlement Procedures Act (RESPA).  

Credit Union National Association (CUNA) continues to seek additional guidance and rule amendments in these areas on behalf of credit unions in need of regulatory relief. The trade association plans to provide substantive feedback on necessary modifications to the ATR/QM and RESPA servicing rule.  

“We look forward to continuing our productive discussions with the Bureau and are prepared to provide any feedback necessary to secure positive modifications to the ATR/QM and Mortgage Servicing Rules,” said CUNA Chief Advocacy Officer Ryan Donovan. “We also anticipate working closely with CFPB leadership to ensure any rulemakings are appropriately tailored to address the practices of bad actors while also encouraging the bureau to exercise the exemption authority given to it by the Dodd-Frank Act to exempt good actors such as credit unions.”  

The ATR/QM rule uses eight factors to describe the minimum standards that must be used to determine that consumers have the ability to repay the mortgages they are extended. It also defines the requirements for QMs and how QM status works. 

Following her confirmation, CUNA sent a letter to CFPB Director Kathy Kraninger to address the need for changes to these rules. 

About CUNA     
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit