Promoting Access to Mortgage Credit

The order directs federal agencies to increase access to mortgage credit by reducing regulatory burdens that limit community and smaller banks’ participation in mortgage lending and by modernizing origination and closing standards. The Consumer Financial Protection Bureau is instructed to consider amendments to Regulation Z, ATR/QM rules, TRID timing, caps on QM points and fees for small loans, rescission procedures, and other underwriting and disclosure requirements to tailor rules for banks under $100 billion and support portfolio lending, competition, and lower lending costs.