This video explains that some specific kinds of lending organizations are exempt from the ability-to-repay laws enacted in 2014. These include:
In addition, small nonprofit organizations that make relatively few home loans, and loans made under Federal programs such as the Emergency Economic Stabilization Act may be exempt. The laws and guidelines are intended to help consumers and lenders avoid risk. If you want to confirm a lender’s statement about being exempt from Ability-to-Repay inquire with the Consumer Financial Protection Bureau online, or by telephone.