March 06, 2014

NAFCU updates mortgage rule resources

March 7, 2014 – NAFCU's regulatory compliance team has updated the association's mortgage rules compliance resources, including the popular scope-and-applicability charts and consolidated regulatory text.

The updates are noted in today's NAFCU Compliance Blog post by Jiji Bahhur, NAFCU's director of regulatory compliance. Today's post also looks at NCUA's guidance under the recently implemented derivatives rule.

NAFCU published 10 mortgage rule scope-and-applicability charts in all. In addition to these and the updated consolidated text, the resources section has been expanded to include a section on the integrated mortgage disclosures required under the Truth in Lending Act and Real Estate Settlement Procedures Act. Both were updated last fall and take effect in August 2015.