SUBSCRIBE TO 'PLAIN LANGUAGE' GUIDES
updated 04/11/13 11:17 AM
CFPB Publishes First in a Series
The Consumer Financial Protection Bureau (CFPB) has released its first "plain language" compliance guide—the first in a series of summary guides and other materials aimed at assisting mortgage industry professionals prepare for compliance with new rules from the agency.
Click here to sign up by inserting your email address into the Email Updates field on the right-hand side of the webpage.
By signing up, mortgage professionals will be able to view a rule's implementation materials the same day they are released.
So far, the CFPB has published its Small Entity Compliance Guide for the Ability-to-Repay and Qualified Mortgage Rule, a comprehensive summary in a plain-language and frequencly-asked-questions format.
This guide makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.
For more information on the CFPB's guidance initiative, Click here.