Lending
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CFPB Issues Housing Counselor Information Interpretive Rule
The Consumer Financial Protection Bureau has restated guidance in the form of a final interpretive rule on how to provide mortgage applicants with homeownership counseling organization lists.
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CFPB Releases Home Loan Toolkit
The home loan toolkit, provided to mortgage applicants during the application process, is intended to replace the settlement cost booklet.
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Proposal Aimed at Small Creditors Serving Rural and Underserved Areas
View a summary of the CFPB’s potential changes for mortgage lenders. Comments on the proposed rule are due March 30, 2015.
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CFPB Finalizes Minor Changes to TRID
Learn about two small changes to the Truth-in-Lending and Real Estate Settlement Procedures Act Integrated Disclosure rules (TRID), effective August 1, 2015.
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Proposed Rule Expands Foreclosure Requirements
On November 20, 2014, the Consumer Financial Protection Bureau (CFPB) announced a proposed rule requiring mortgage servicers to provide additional foreclosure protections to certain borrowers. The 492 page proposal would amend Regulations X and Z.
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CFPB: Lenders Cannot Request Certain Social Security Disability Income Information
The Consumer Financial Protection Bureau (CFPB) released a blog posting and bulletin on November 18, 2014, about lenders impermissibly asking for proof regarding the length of time a consumer will continue to receive social security disability income.
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Proposed Changes to Flood Insurance Rules for Financial Institutions
Five federal regulatory agencies, including the National Credit Union Administration, issued a joint notice of proposed rulemaking to change the flood insurance rules.
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CFPB Proposes Two Amendments to Integrated Mortgage Disclosure Rules
On October 10, the Consumer Financial Protection Bureau (CFPB) issued proposed amendments to its Truth in Lending-Real Estate Settlement Procedures Act integrated mortgage disclosure rule (mortgage rule).
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CFPB Penalizes Bank for New Mortgage Servicing Rule Violations
The Consumer Financial Protection Bureau (CFPB) announced on September 29 that it took action against Flagstar Bank for violations related to the new mortgage servicing rules.
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CFPB Releases TILA-RESPA Integrated Disclosures Small Entity Compliance Guide
Sixteen months before the rule goes into effect August 1, 2015, the Consumer Financial Protection Bureau (CFPB) released the small entity compliance guide for the Truth in Lending Act and Real Estate Settlement Procedures Act (TILA-RESPA) integrated mortgage disclosure rule.