Cliff Rossi, Tyser Teaching Fellow and executive-in-residence at the University of Maryland’s Robert H. Smith School of Business, is available to comment on new home lending regulations set forth by the Consumer Financial Protection Bureau. The bureau's “Ability to Pay” rule is designed to assure the reliability of mortgages. It addresses portions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act focused on consumer ability to repay home loans.
“This is probably one of the most significant policies to affect the housing market in decades and much anticipated by the industry for quite some time,” says Rossi. “It will affect who gets a mortgage, how much it will cost and eventually -- if there are problems with the loan over time -- what legal recourse the borrower has.”
Rossi, who has held senior risk management positions at Freddie Mac and Fannie Mae, more recently was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group. Contact him at 301-908-2536 or crossi@rhsmith.umd.edu.
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The Robert H. Smith School of Business is an internationally recognized leader in business education and cutting-edge research. The school’s world-class faculty facilitate experiential learning opportunities rooted in the real world. Smith students learn to think like entrepreneurs, prepared to drive positive impact. The school offers undergraduate, online and on-campus business master's, full-time, part-time, online and executive MBA, plus PhD and DBA degree programs, and non-degree and executive education programs. Where Smith leads, the future follows.