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Comments are due on Oct. 22, 2014.
The CFPB says the proposed rule would improve information reported about the residential mortgage market, according to a statement.
It would also “shed more light on consumers’ access to mortgage credit by updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA) regulations. The Bureau also aims to simplify the reporting process for financial institutions.”
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.