The Consumer Financial Protection Bureau (CFPB) launched a new page on it website on Thursday meant to help mortgage lenders comply with the Dodd-Frank Act’s mortgage reforms and the bureau’s own rules.
The new Regulatory Implementation web page consolidates all of the CFPB’s new 2013 mortgage rules and related implementation materials in an effort to support rule implementation and ensure the mortgage industry is ready to comply with new borrower protections.
“This [new page] is the central access point for our mortgage-related implementation materials,” the CFPB said, listing materials including mortgage rules at a glance; small entity compliance guides; video overviews of rules; and quick reference charts that provide an easy way to see which rules are likely to apply to certain products or businesses.
Industry participants can look at a table listing each new mortgage rule along with its own downloadable compliance guide and video overview.
“Our goal with this page is to provide access to our mortgage-related implementation resources though a single web page that makes the rule content more accessible for a broad array of industry constituents,” the CFPB said, “especially smaller businesses with limited legal and compliance staff.”
View the Regulatory Implementation page.
Written by Alyssa Gerace