The mortgage industry has been barraged with new rules this year, and the regulator behind the rules has created a centralized resource page.
The Consumer Financial Protection Bureau finalized several rules in January that impact home loan originations and mortgage loan servicing.
Now the new rules have been summarized in a central location that includes resources such as compliance guides and videos.
The CFPB’s Regulatory Implementation page lists seven rules:
- Ability to Repay/Qualified Mortgage
- 2013 HOEPA Rule
- Loan Originator Compensation
- ECOA Valuations
- TILA HPML Appraisals
- Escrows
- TILA and RESPA Servicing
Links are provided to a PDF compliance guide for each rule. A video link is also provided for each rule.
In addition, a number of quick reference charts are promoted as “an easy way to see which rules are likely to apply to certain products or businesses.”
A link to an even more in-depth table, Mortgage Rules at a Glance, provides additional resources such as Dodd-Frank citations, proposals and notices, and updates — among other resources.
“This page is part of a broader effort by the bureau to help you comply with the Dodd-Frank Act mortgage reforms and our rules,” the Regulatory Implementation page states.
