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This effort will "support rule implementation and ensure the industry is ready to comply with the new borrower protections," the agency stated in a message to financial institutions.
Click here to view the CFPB's Regulatory Implementation Page.
The new page is "the central access point for our mortgage-related implementation materials," the agency said, including:
"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, especially smaller businesses with limited legal and compliance staff," the bureau stated.
Although these implementation materials give an overview of the rules, they are not substitutes for the underlying rules.
COMPLIANCE ROUNDUP: ALERTS, GUIDANCE
updated 10/06/15 09:09 AM
Plus, Flood Insurance Webinar
Federal credit unions can continue to make payday alternative loans (PALs) under changes to the Military Lending Act (MLA), which became effective Thursday, according to the Credit Union National Association (CUNA).
CFPB POSTS SPANISH CONSUMER BOOKLET
updated 09/28/15 02:11 PM
'Your Home Loan Toolkit'
The Consumer Financial Protection Bureau (CFPB) has posted a Spanish language version of its Home Buying Information Booklet—also known as the “special information booklet” or “settlement cost booklet”—as required under the Real Estate Settlement Procedures Act (RESPA), Regulation X, and Regulation Z.