Mortgage Act

Mortgage Reform and Anti-Predatory Lending Act. The MRAPLA was originally passed as a standalone bill by the U.S. House of Representatives in 2009, but was never passed by the US Senate. A revised version of the standalone bill later became Title XIV of the Dodd-Frank Act. Among other things, the Act amends TILA and RESPA, creates minimum standards for mortgages, places restrictions on residential mortgage loan originator compensation, creates and defines a “qualified mortgage” and requires lenders to verify a consumer’s ability to repay.