March 6, 2013 – NAFCU’s offices are officially closed today due to the federal government closure and snow emergency for the region, but many of its functions will continue, including a webcast on the CFPB’s ability-to-repay mortgage rule, publication of NAFCU Today, communications with media and more.
Today’s webcast, “CFPB’s New Rules: Ability-to-Repay/Qualified Mortgages,” is slated from 2-4 p.m. Eastern. Credit union attorney Andy Keeney will provide participants an in-depth look at how to ensure their own compliance with the new rule in time for system testing. The rule takes effect next Jan. 10.
This CFPB rule affects any credit union that provides first mortgage loans. Today’s webcast will cover all aspects of the measure, including its impact on underwriting, loan review and approval, debt-to-income requirements, refinancings and more.
Keeney is making the trek to NAFCU’s offices today to conduct the webcast from the NAFCU studio. A handful of staff will also be on hand, and NAFCU employees are carrying out essential functions remotely to ensure members' needs are met in a timely manner.
Today, keep the following in mind:
- NAFCU’s website remains available for those seeking information about key issues and events.
- Conference registrations will be facilitated online via the website.
- Compliance staff are fielding questions submitted by email. To contact that staff, members should send an email to email@example.com.