The CFPB continues to implement changes to its mortgage rules, including 2016 changes to mortgage servicing rules and last year's TILA/RESPA Integrated Disclosures (TRID). Below you will find the latest resources on the 2016 changes and recent compliance deadlines for these amended rules, including final rule summaries, insightful blog posts, articles and webcasts.
(Visit our 2013 Mortgage Rules page for compliance resources on the mortgage rules that became effective in January 2014.)
TILA/RESPA Integrated Mortgage Disclosures (TRID)
The CFPB finalized their TRID "fix" rule in August 2017. The latest compliance information and NAFCU resources on TRID are listed below.
Compliance Deadline: Regulatory compliance required for applications received on or after October 1, 2018
- TRID "fix" Final Regulation Summary* (August 2017)
- Consolidated Regulatory Text: August 2017 TRID "fix" final rule and additional proposed changes*
- Blog Post: Home is Where You Make It: RV Loan Disclosure Rules (February 5, 2018)
- Blog Post: Breaking Down the TRID Fix: Rate Lock Revised LEs Are One and Done (January 8, 2018)
- Blog Post: TRID Amendments – Tolerances, Expiration of Loan Estimates and Updated Forms Guide (December 11, 2017)
- Blog Post: Breaking Down the TRID Fix: It's the Same with Affiliates, Only Different (August 18, 2017)
- Blog Post: Breaking Down the TRID Fix: 60 Days Isn't Really 60 Days, Except When It Is (July 19, 2017)
View additional compliance resources for TRID mortgage rules issued in 2013.
2016 Mortgage Servicing Rules
The CFPB issued a final rule in August 2016 amending its 2013 mortgage servicing rules in certain areas, including successors in interest, definition of delinquency, requests for information, force-placed insurance notices, early intervention, loss mitigation, prompt payment crediting, and periodic statements, and more. Information and NAFCU resources on this 2016 final ruling are listed below.
Compliance Deadline (all provisions except as noted below): October 19, 2017
Successor in Interest Provisions Compliance Deadline: April 19, 2018
Bankruptcy Periodic Statements Compliance Deadline: April 19, 2018
- Scope & Applicability Chart: Mortgage Servicing Charts Combined*
- NAFCU Final Rule Summary*
- Consolidated Regulatory Text: CFPB's Mortgage Servicing Rule*
- Blog Posts: Mortgage Servicing Rules
- Article: 2016 Mortgage Servicing Rules Part I: Successors in Interest*
- Article: 2016 Mortgage Servicing Rules Part II: Delinquency and Early Intervention*
- Article: CFPB Amends Mortgage Servicing Rules for Successors in Interest
- Article: 2016 Mortgage Servicing Rules Part III: Periodic Statements*
- Article: 2016 Mortgage Servicing Rules Part IV: Loss Mitigation*
- Article: Mortgage Servicing Rules Part V: Force-Placed Insurance, Small Servicers, Updates and Resources*
View additional compliance resources for 2013 mortgage servicing rules.