CFPB Creates Mortgage Rule Implementation Webpage

The Consumer Financial Protection has launched a new mortgage rule implementation page on its website so lenders and servicers can easily check compliance guidelines and receive updates on mortgage regulations.

Our goal with this page is to provide access to our mortgage-related implementation resources though a single page that makes the rule content more accessible for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff, the CFPB said.

The new webpage has compliance guides for the qualified mortgage rule, the loan compensation rule, the servicing rule and other mortgage rules along with compliance videos.

All the CFPB mortgage rules, compliance guides and videos are listed in a single table.

The webpage also has a Questions box so individuals can email questions about a rule directly to the CFPB.

Lenders and servicers can also check the website to see if they are located in rural and underserved counties and qualify for an exemption from certain mortgage rules.

Article source: http://www.nationalmortgagenews.com/dailybriefing/cfpb-creates-mortgage-rule-implementation-webpage-1036959-1.html

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