July 16, 2014

NAFCU talks mortgage regs with CFPB

July 17, 2014 – NAFCU Director of Regulatory Affairs Mike Coleman and Regulatory Affairs Counsel Angela Meyster met with Shek Agarwal, the acting assistant director of mortgage markets at CFPB, on Wednesday to discuss mortgage regulations and the credit union industry.

The meeting focused on the most pressing mortgage regulation issues for credit unions today and how CFPB can work with credit unions that are feeling the regulatory burden.

Meyster recently wrote CFPB regarding its proposed, limited post-consummation cure mechanism for points and fees in certain mortgage loans, and regarding a cure for the qualified mortgage debt-to-income ratio overages and the definition of a "small creditor."