With so many mortgage rules going into effect under the Consumer Financial Protection Bureau through the end of 2013 and into 2014, the agency this week announced it’s offering a “quick-reference guide” to help lenders navigate the rules and complying with them on time.
Hosted on the CFPB’s website, the “at a glance” guide includes a breakdown of the rules, final rules, notices and additional resources including videos to provide further explanation. Effective dates are given for each rule, as are detailed time lines for each.
The rules span the Qualified Mortgage Rule and Ability-to-Repay specifications, as well as loan originator compensation rules, Truth in Lending Act and Real Estate Settlement and Procedures Act servicing rules, new escrow rules and others.
All updates and amendments are also listed, including public comments.
Written by Elizabeth Ecker