Newsroom

April 08, 2013

CFPB to release mortgage rules guidance this week

April 8, 2013 – The CFPB says it will begin releasing materials this week aimed at helping mortgage lenders understand and comply with the bureau's mortgage loan regulations.

The bureau says it's planning to release plain-language guides, updates of the official interpretations, examination procedures and more.

"Earlier this year, we issued several mortgage rules that provide new protections for American consumers. We also announced an implementation support plan to help the mortgage industry prepare to comply with the new rules," the CFPB said in a press release Friday. "Next week, we plan to begin releasing plain-language compliance guides and other materials as part of that plan."

NAFCU has been urging the bureau all along to issue plain-language and other materials that credit unions can use to more quickly access the CFPB rules. Steve Van Beek, NAFCU's director of regulatory compliance, welcomes this recent development at the bureau in his post today on the NAFCU Compliance Blog.

The CFPB invites anyone interested in receiving alerts of new materials as they are released to sign up via its website.