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.)
Scope & Applicability Chart: Mortgage Servicing Charts Combined*
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.
View additional compliance resources for 2013 mortgage servicing rules.
The CFPB proposed additional changes to the TILA/RESPA Integrated Disclosures rule in July 2016. The proposal incorporates several NAFCU-sought changes, including recommendations on the codification of the bureau's informal compliance guidance and more guidance on construction lending. The latest compliance information and NAFCU resources on TRID are listed below.
View additional compliance resources for TRID mortgage rules issued in 2013.