alternative mortgage transactions

That’s the question state-licensed and state-chartered mortgage lenders (state housing creditors) should be asking in light of the CFPB’s interim final rule which became effective July 22, 2011. Because the rule significantly narrows the preemption available under the Alternative Mortgage Transaction Parity Act (AMTPA), the answer to this question could be “no” for many mortgage products now offered by state housing creditors.… Continue Reading