Compliance Blog

Feb 13, 2013

NAFCU's Scope & Applicability Charts for the New Mortgage Rules; NAFCU Calls for CU Reg Relief

Written by Steve Van Beek

The CFPB's 3507 pages of new mortgage regulations has everyone wondering where to start and how to best handle the new requirements.  One of the best first steps is to determine which requirements apply to which types of mortgage loans.  To help with this, NAFCU has put together the following Scope & Applicability Charts:

  • Regulation Z (TILA) Mortgage Servicing Requirements
  • Regulation X (RESPA) Mortgage Servicing Requirements
  • Loan Originator Compensation, Qualifications, Training and Disclosure Requirements
  • Regulation B Appraisal Requirements
  • Appraisal Disclosure Requirement for Higher-Priced Mortgage Loans
  • Appraisal Requirements for Higher-Priced Mortgage Loans
  • New Escrow Requirements for Higher-Priced Mortgage Loans
  • New Requirements for High-Cost Mortgage Loans
  • New Homeownership Counseling Disclosure Requirement
  • Ability-to-Repay Requirements and Qualified Mortgage Standards 

Now, you might be wondering how you gain access to those charts.  There are Five Ways:

  • Non-NAFCU member registrants of NAFCU's Regulatory Compliance Seminar will receive access in the next week.  If you sign-up for Seminar after today, we'll get the charts to you within a week of your registration.   

A Note on Sharing of Charts.  We put a ton of time and effort into researching and creating these charts.  And, we've made the accessible - in one way or another - to any credit union or organization that is interested.  Please do not share these outside of your credit union.  Of course, if you have any questions - just shoot me an email.  

Hope to see you on today's Mortgage Rules Webcast.


NAFCU Calls for Regulatory Relief.  Yesterday morning, NAFCU sent a letter to Senate and House leaders calling for a five-point plan on providing regulatory relief for credit unions through administrative, capital, structural, operational and data security reforms.  You can find the letter here.  For additional details, check out the NAFCU Today.