The CFPB issued its 804 page regulation recently as a part of the rule making required by the Dodd Frank Act. Many of you may be saying why do I care? These rules are important because they now make it clear that lenders MUST consider not only a borrower’s ability to pay mortgage principal, interest, taxes and insurance but also the borrower’s ability to pay assessments. Not only are regular assessments considered as a part of the ability to pay but also special assessments. These rules can only help our associations have stronger financial infrastructures.