Newsroom
April 11, 2013
CFPB posts small-entity guide on QM
April 11, 2013 – A compliance guide for small entities affected by the CFPB's ability-to-repay/qualified mortgage rules was released Wednesday in plain language and following a frequently asked questions format.
The guide is one of many expected to come from CFPB as it releases compliance helps on its mortgage rules. NAFCU has long pressed for such guidance and welcomed it in a NAFCU Compliance Blog post Monday.
"Our goal with this guide is to provide a comprehensive rule summary in a plain language and FAQ format," the CFPB said in an announcement which makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff," the CFPB said in an announcement Wednesday.
"Although each guide summarizes a rule, it is not a substitute for the underlying rule," the bureau notes.
The bureau says it plans to publish guides for each of its new mortgage rules over the next several weeks; the guides will be accessible on the CFPB's individual mortgage rule pages. Anyone who has signed up for updates will receive email announcements as the guides are published.
Sign up for updates on the CFPB's Regulations page. The CFPB is also welcoming feedback, including suggestions for improvements, via email to CFPB_TitleXIVRules@cfpb.gov.
The guide is one of many expected to come from CFPB as it releases compliance helps on its mortgage rules. NAFCU has long pressed for such guidance and welcomed it in a NAFCU Compliance Blog post Monday.
"Our goal with this guide is to provide a comprehensive rule summary in a plain language and FAQ format," the CFPB said in an announcement which makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff," the CFPB said in an announcement Wednesday.
"Although each guide summarizes a rule, it is not a substitute for the underlying rule," the bureau notes.
The bureau says it plans to publish guides for each of its new mortgage rules over the next several weeks; the guides will be accessible on the CFPB's individual mortgage rule pages. Anyone who has signed up for updates will receive email announcements as the guides are published.
Sign up for updates on the CFPB's Regulations page. The CFPB is also welcoming feedback, including suggestions for improvements, via email to CFPB_TitleXIVRules@cfpb.gov.
Share This
Related Resources
Add to Calendar 2024-04-23 14:00:00 2024-04-23 14:00:00 Monitoring the Latest Litigation Risks Credit unions’ operations pose litigation risks, with more of these cases being filed as class action lawsuits. In this Monitoring the Latest Litigation Risks for Credit Unions webinar, you’ll review some of the specific kinds of lawsuits impacting credit unions and what potential claims could be on the horizon. You’ll also examine some options for mitigating risks. Key Takeaways Review the current lawsuit trends. Understand the potential claims risks Explore options for mitigating risks. Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 23, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Monitoring the Latest Litigation Risks
Credits: NCCO, NCRM
Webinar
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Get daily updates.
Subscribe to NAFCU today.