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Compliance
Mortgage Reform 2013-2014

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Key Resources

“Small creditors” asked to comment on mortgage rules

Compliance Courier 6/09/14

The League is asking “small creditors” to tell us what they think about three aspects of the recent Dodd-Frank mortgage lending rules. We’d like to share your views in a letter to the Consumer Financial Protection Bureau (CFPB).

The CFPB is seeking comments from small creditors (and from lenders who can’t qualify as small creditors because they have originated too many first-lien mortgages) on three issues:

• The challenges small creditors have faced in moving from balloon loans to adjustable rate mortgage loans because of the rule changes;

• Data on the number of types of loans small creditors originated to hold in portfolio before the rules took effect on Jan. 10, 2014 vs. after; and

• Comments on whether it is appropriate to limit the definition of “small creditors” to those that originated 500 or fewer first-lien loans in the previous year.

CFPB: Small Entity Compliance Guide: TILA-RESPA Integrated Disclosure rule, (September 2014)

This is a plain-language guide to the new rules in a FAQ format which makes the content more accessible for industry constituents, especially smaller businesses with limited legal and compliance staff.

CFPB: TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure forms (September 2014)

This document provides detailed, illustrated instructions on completing the Loan Estimate and Closing Disclosure.

This Guide also highlights common situations hat may arise when completing the Loan Estimate and Closing Disclosure.

Changes related to the TILA-RESPA rule may take careful planning, time, or resources to implement. This Guide will help you identify and plan for any necessary changes.

This Guide is not a substitute for the TILA-RESPA rule. Only the rule and its Official Interpretations (also known as commentary) can provide complete and definitive information regarding its requirements.


ii Releases

B008   Appraisals and Evaluations

This release applies to all credit unions, state or federal, when they engage in real estate lending, or sell, purchase, lease, or invest in real property.

B053   Real Estate Mortgage Lending

This release describes the requirements of Wis. Admin. Code Ch. DFI-CU 54 (effective November 1, 1997), with cross-references to other regulations. Although federal credit unions are not subject to the state rule, similar guidelines are imposed by NCUA Letter to Credit Unions No. 124.

B062   High-Cost Mortgage Loans Under HOEPA

This release describes the Federal Reserve’s requirements for credit unions offering “high-cost” or “high-fee” mortgage loans subject to the Home Ownership and Equity Protection Act (HOEPA) rules in Reg. Z. This will often include credit unions single premium credit life or credit disability insurance.

B068   Reg. Z – Higher-Priced Mortgage Loans

This release applies to all credit unions, both state and federal. It describes Truth in Lending restrictions on certain “higher-priced mortgage loans.”

B071   Reg. Z: Loan Originator Compensation, Qualifications and Anti-Steering Rules

To protect consumers from unfair, abusive and deceptive practices in the mortgage market, the Truth in Lending Act and Reg. Z restrict how loan originators may be compensated. These rules are found in Reg. Z §226.36.

To comply with these rules, it is critical that a credit union analyze all of its closed-end mortgage lending to determine whether or when the credit union and its staff meet the regulation's definitions of "creditor," "loan originator," or "mortgage broker." The release explains what each term means. A credit union itself can be considered a loan originator in certain situations, and its employees may be loan originators, too. Each credit union must determine how the definitions apply to its mortgage loan programs.

B074   Reg. Z: Ability-to-Repay / Qualified Mortgage Rule

This release applies to all credit unions, both state and federal. It describes a Truth in Lending regulation that requires lenders to consider a borrower’s ability to repay when originating closed-end consumer credit transactions secured by a dwelling. It also describes certain presumptions of compliance for loans that are considered “qualified mortgages.” This release is based on the Consumer Financial Protection Bureau’s (the CFPB’s) “Ability-to-Repay and Qualified Mortgage Rules Small Entity Compliance Guide,” but it also addresses Wisconsin law and cross-references other League resources.

B075   Reg. X & Reg. Z: Mortgage Servicing Rules

This release applies to all credit unions, both state and federal. It describes nine federal Mortgage Servicing Rules – regulations issued by the Consumer Financial Protection Bureau (CFPB) that address the duties of mortgage loan “servicers.” This release is based on the CFPB’s “2013 Real Estate Settlement Procedures Act (Regulation X) and Truth in Lending (Regulation Z Mortgage Servicing Final Rules, Small Entity Compliance Guide,” but it also addresses Wisconsin law and cross-references other League resources. It is current through September 2013 amendments.

B076   Reg. Z: Financing Credit Insurance

This release applies to all credit unions, both state and federal. It describes Truth in Lending regulations (Reg. Z) that prohibit lenders from financing any premiums or fees for credit insurance (which includes debt suspension or cancellation agreements) in connection with most home loans and home equity lines of credit.

B077   Providing Copies of Appraisals

This release applies to all credit unions, both state and federal. It describes state and federal requirements to provide mortgage loan applicants with copies of appraisals or other valuations used in connection with their loans.


Federal Regulations

CFPB: 12 CFR 1026.34

Truth in Lending (Reg. Z)
Subpart E - Special Rules for Certain Home Mortgage Transactions.
1026.34 Prohibited acts or practices in connection with high-cost mortgages.

CFPB: 12 CFR 1026.35

Truth in Lending (Reg. Z)
Subpart E - Special Rules for Certain Home Mortgage Transactions.
1026.35 Requirements for higher-priced mortgage loans.

CFPB: 12 CFR 1026.43

Truth in Lending (Reg. Z)
Subpart E - Special Rules for Certain Home Mortgage Transactions.
1026.43 Minimum standards for transactions secured by a dwelling.

CFPB: 12 CFR 1026_Appendix Q to Part 1026

Truth in Lending (Reg. Z)
Appendix Q - Standards for Determining Monthly Debt and Income.

CFPB: 12 CFR 1026_Supplement I to Part 1026

Truth in Lending (Reg. Z)
Official Staff Interpretations


League Resources

“Small creditors” asked to comment on mortgage rules

Compliance Courier 6/09/14

The League is asking “small creditors” to tell us what they think about three aspects of the recent Dodd-Frank mortgage lending rules. We’d like to share your views in a letter to the Consumer Financial Protection Bureau (CFPB).

The CFPB is seeking comments from small creditors (and from lenders who can’t qualify as small creditors because they have originated too many first-lien mortgages) on three issues:

• The challenges small creditors have faced in moving from balloon loans to adjustable rate mortgage loans because of the rule changes;

• Data on the number of types of loans small creditors originated to hold in portfolio before the rules took effect on Jan. 10, 2014 vs. after; and

• Comments on whether it is appropriate to limit the definition of “small creditors” to those that originated 500 or fewer first-lien loans in the previous year.

CFPB amends & clarifies mortgage servicing rules

Compliance Courier 12/30/13

The Consumer Financial Protection Bureau (CFPB) recently issued a press release, bulletin, and interim final rule amending and clarifying parts of the mortgage servicing regulations that went into effect Jan. 10, 2014.

CFPB clarifies mortgage servicing & qualified mortgage rules

Compliance Courier 7/11/13

The Consumer Financial Protection Bureau (CFPB) has amended and clarified ability-to-repay and mortgage servicing rules, which take effect Jan. 10, 2014.

CFPB finalizes mortgage servicing regulations; many credit unions exempt

Compliance Courier 1/17/13

The Consumer Financial Protection Bureau (CFPB) is releasing final regulations today, designed to give consumers better tools and information when dealing with mortgage servicers. The rules will take effect on January 10, 2014.

CFPB issues new TILA/RESPA disclosures, effective Aug. 1, 2015

Compliance Courier 11/21/13

The Consumer Financial Protection Bureau (CFPB) has issued its new (and long-awaited) "Know Before You Owe" mortgage forms and rule. The new forms will replace the early Truth in Lending statement and the Good Faith Estimate (which are given early in the application process) and the Settlement Statement and final Truth in Lending disclosure forms (which are given at closing).

The rule is effective Aug. 1, 2015. Credit unions will have to provide the new disclosures for loans applications they receive on or after that date.

The rule will apply to most closed-end consumer credit transactions secured by real property. This includes first mortgages and closed-end home equity loans. It will not apply to HELOCs, reverse mortgages, mortgages secured by mobile homes and loans secured by a dwelling but not attached real property.

CFPB issues preliminary list of rural and underserved counties

Compliance Courier 3/14/13

As explained in ii Release No. B068, when a credit union makes a first-lien "higher-priced mortgage loan" (HPML) it must escrow for taxes, homeowners insurance and other insurance the credit union requires. This escrow rule has several exceptions, and a new exception takes effect June 1: Small credit unions in certain "rural" or "underserved" areas will not be required to establish escrows for first-lien HPMLs.

CFPB releases more mortgage regulations – on appraisals, loan originator compensation & single-premium credit insurance

Compliance Courier 1/21/13

Everyone is eager for even more mortgage lending rules from the Consumer Financial Protection Bureau (CFPB), right? The federal regulators have been working overtime lately to issue rules required by the Dodd-Frank Act. Two new sets of rules have now been issued … in addition to the other six final rules that have come out in the last two weeks.

Fannie Mae & Freddie Mac to buy only qualified mortgages

Compliance Courier 5/7/13

The Federal Housing Finance Agency (FHFA) has announced that it is directing Fannie Mae and Freddie Mac to buy only mortgage loans that meet the requirements for a qualified mortgage, including those that meet the special or temporary qualified mortgage definition, and loans that are exempt from the "ability to repay" requirements.

Final rules restrict financing of credit insurance premiums

Compliance Courier September 23, 2013

The CFPB has ammended Truth in Lending rules that will prohibit the financing of credit insurance premiums for mortgage loans. The final rules were included in a set of mortgage regulation amendments recently published by the Consumer Financial Protection Bureau (CFPB). The full text of amendments is online here. Additional resources to help credit unions comply with all of the 2013-14 mortgage rules changes can be found on theCFPB's Regulatory Implementation page.

Important developments hamper CUs making demand loans

Compliance Courier 11/14/13

Two recent developments will affect Wisconsin credit unions’ ability to offer demand loans:

  • It appears that demand loans, like balloon loans, generally cannot be "qualified mortgages" under new rules taking effect in January – unless the credit union is a "small creditor."
  • The Administrator of the Wisconsin Consumer Act (WCA) now views demand clauses as violating the WCA, and it will not continue to approve The League’s consumer loan form if it includes a demand clause.

Loan Originator Changes in 2014

Compliance Courier 4/10/13

Several of The League's ii Releases are being updated to address changes to Truth in Lending's Regulation Z. The Consumer Financial Protection Bureau (CFPB) recently amended Reg. Z §1026.36, as required by the federal Dodd-Frank Act. Effective Jan. 10, 2014, these changes will apply to "loan originators" who handle closed-end loans secured by a consumer's dwelling.

New exemptions ease appraisal burdens for higher-priced mortgage loans

Compliance Courier 1/3/14

The CFPB, NCUA, and other federal regulators have adopted new rules that exempt certain types of "higher-priced mortgage loans" (HPMLs) from new appraisal requirements taking effect Jan. 18, 2014.

New HPML appraisal rules issued

Compliance Courier 1/17/13

The federal agencies that regulate financial institutions are releasing new joint final rules that will require interior appraisals and appraisal notices for certain "higher-priced mortgage loans" (HPMLs), effective Jan. 18, 2014. An additional appraisal will be required, at no cost to the borrower, if the house is being "flipped."

Online tool will generate lists of homeownership counselors

Compliance Courier 12/6/2013

Practical tools can help CUs implement critical new mortgage rules

Compliance Courier 10/17/13

Prohibition on single-premium payment protection and arbitration clauses effective June 1

Compliance Courier 3/1/13

The Consumer Financial Protection Bureau (CFPB) has issued quite a few new mortgage lending rules recently, as required by the Dodd-Frank Act. Most of the regulations aren’t effective until next year, but a few go into effect June 1, 2013, including these two:

  • A credit union cannot finance, directly or indirectly, any premiums or fees for credit insurance in connection with a consumer loan secured by a dwelling.
  • Also, residential mortgage documents cannot require arbitration for disputes.
  • Reminder: Mortgage rule changes effective June 1

    Compliance Courier 5/17/13

    All the recent and pending mortgage rule changes can be confusing. The League wants to remind Wisconsin credit unions of the changes going into effect June 1, 2013.

    Two Reg. Z amendments ease mortgage compliance for “small creditors”

    Compliance Courier 9/23/13

    The Consumer Financial Protection Bureau (CFPB) recently amended its mortgage lending rules to ease compliance somewhat for lenders that meet the definition of "small creditor" under Reg. Z. The two changes are:

  • Amendments to rules that went into effect in June 2013 will make it easier for "small creditors" to avoid establishing escrow accounts for first-lien higher-priced mortgage loans.
  • For two years (until Jan. 10, 2016), all "small creditors," regardless whether they lend predominantly in "rural" or "underserved" areas, can continue originating balloon "high-cost" mortgages – if the loans meet the requirements for "qualified mortgages" under Reg. Z. That rules goes into effect for applications received on or after Jan. 10, 2014. (Similar amendments to the qualified mortgage rules were made last month.)

  • Resources

    CFPB: 2013 HOEPA Rule video transcript (5/14/2013)

    CFPB video guidance to the 2013 Mortgage Servicing Rules. Mr. Ben Olson, the Deputy Assistant Director for Regulations at the Consumer Financial Protection Bureau, discusses the Bureau’s January 2013 final rule under the Homeownership and Equity Protection Act (HOEPA), effective on January 10th, 2014.

    CFPB: 2013 RESPA (Reg. X) & TILA (Reg. Z) Mortgage Servicing Final Rules, (February 14, 2013) (Eff. January 10, 2014)

    These final rules implement provisions of the Dodd-Frank Act regarding mortgage loan servicing.

    The Reg. X final rule implements servicers’ obligations to correct errors asserted by mortgage borrowers; to provide certain information requested by such borrowers; and to provide protections to such borrowers in connection with force-placed, servicers’ obligations to establish reasonable policies and procedures to achieve certain objectives; to provide information about mortgage loss mitigation.

    The Reg. Z final rule implements rate adjustment notices for adjustable-rate mortgages, periodic statements for residential mortgage loans, prompt crediting of mortgage payments, and responses to requests for payoff amounts. amounts.

    This rule is effective January 10, 2014.

    CFPB: Ability to Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Reg. Z), (January 30, 2013) (Eff. January 10, 2014)

    The CFPB amended Reg. Z, which implements the Truth in Lending Act (TILA). Reg. Z currently prohibits a creditor from making a higher-priced mortgage loan without regard to the consumer’s ability to repay the loan. The final rule implements sections 1411 & 1412 of the Dodd-Frank Wall Street Reform & Consumer Protection Act (Dodd-Frank Act), which generally require creditors to make a reasonable, good faith determination of a consumer’s ability to repay any consumer credit transaction secured by a dwelling (excluding an open-end credit plan, timeshare plan, reverse mortgage, or temporary loan) & establishes certain protections from liability under this requirement for “qualified mortgages.” The final rule also implements section 1414 of the Dodd-Frank Act, which limits prepayment penalties. Finally, the final rule requires creditors to retain evidence of compliance with the rule for three years after a covered loan is consummated.

    This rule is effective January 10, 2014.

    CFPB: Ability-to-Repay and Qualified Mortgage Rule video transcript (5/14/2013)

    CFPB video guidance to the 2013 Mortgage Servicing Rules. Ms. Kelly Cochran, the Assistant Director for Regulations at the CFPB, gives an overview of the ability to repay and Qualified Mortgage Final Rule, effective on January 10th of 2014.

    CFPB: Ability-to-Repay and Qualified Mortgage Rule, Small Entity Compliance Guide (1/8/2014)

    CFPB guidance to the 2013 Mortgage Servicing Rules. Learn more about the rule in a plain language and FAQ format which makes the content more accessible for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.

    CFPB: Appraisals for Higher-Priced Mortgage Loans, (February 13, 2013) (Eff. January 18, 2014)

    This rule implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. The revisions to Regulation Z implement a new provision requiring appraisals for “higher-risk mortgages” that was added to TILA by the Dodd-Frank Act. For mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the final rule requires creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used.

    This rule is effective January 18, 2014.

    CFPB: Comparison chart: Ability to Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Reg. Z), (April 16, 2014) (Eff. January 10, 2014)

    Chart compares the general Ability-to-Repay requirements with the requirements for originating Qualified Mortgage loans.

    CFPB: Compiled overview of all of the 2013 new mortgage rules video transcript (5/14/2013)

    CFPB video guidance to the 2013 Mortgage Servicing Rules. Mr. Richard Cordray, the Director of the Consumer Financial Protection Bureau, gives a one hour video overview of all of the rules as part of a broader effort to help comply with the Dodd-Frank Act’s mortgage reforms.

    CFPB: Detailed summary of the rule: 2013 RESPA (Reg. X) & Truth in Lending Act (Reg. Z) Mortgage Servicing Final Rules, (February 14, 2013) (Eff. January 10, 2014)

    Learn more about the background of these rules and how they affect providers of financial products and services.

    CFPB: Detailed summary of the rule: Appraisals for Higher-Priced Mortgage Loans, (January 18, 2013) (Eff. January 18, 2014)

    Learn more about the background of this rule and how it affects providers of financial products and services.

    CFPB: Detailed summary of the rule: Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations Under the Equal Credit Opportunity Act (Regulation B), (January 18, 2013) (Eff. January 18, 2014)

    Learn more about the background of this rule and how it affects providers of financial products and services.

    CFPB: Detailed summary of the rule: High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Reg. Z) and Homeownership Counseling Amendments to the RESPA (Reg. X), (January 10, 2013) (Eff. January 10, 2014)

    Learn more about the background of these rules and how they affect providers of financial products and services.

    CFPB: Detailed summary of the rule: Loan Originator Compensation Requirements under the Truth in Lending Act (Reg. Z), (January 20, 2013) (Eff. January 10, 2014)

    Learn more about the background of these rules and how they affect providers of financial products and services.

    CFPB: Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations Under the Equal Credit Opportunity Act (Reg. B), (January 31, 2013) (Eff. January 18, 2014)

    The final rule revises Regulation B to implement an ECOA amendment concerning appraisals and other valuations that was enacted as part of the Dodd-Frank Act. In general, the revisions to Regulation B require creditors to provide to applicants free copies of all appraisals and other written valuations developed in connection with an application for a loan to be secured by a first lien on a dwelling, and require creditors to notify applicants in writing that copies of appraisals will be provided to them promptly.

    This rule is effective January 18, 2014.

    CFPB: Escrow Requirements under the Truth in Lending Act (Reg. Z), (January 22, 2013) (Eff. June 1, 2013)

    The CFPB is issuing a final rule that amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Act. Regulation Z currently requires creditors to establish escrow accounts for higher-priced mortgage loans secured by a first lien on a principal dwelling. The rule implements statutory changes made by the Dodd-Frank Act that lengthen the time for which a mandatory escrow account established for a higher-priced mortgage loan must be maintained. The rule also exempts certain transactions from the statute’s escrow requirement. The primary exemption applies to mortgage transactions extended by creditors that operate predominantly in rural or underserved areas, originate a limited number of first-lien covered transactions, have assets below a certain threshold, and do not maintain escrow accounts on mortgage obligations they currently service.

    This rule is effective June 1, 2013.

    CFPB: Executive Summary of the Rule - Final rule on simplified and improved mortgage disclosures, (December, 2013)

    Final rule on simplified and improved mortgage disclosures

    The Consumer Financial Protection Bureau (the Bureau) has issued a rule that will simplify and improve disclosure forms for mortgage transactions. The mortgage disclosures: the Loan Estimate given three business days after application, and the Closing Disclosure given three business days before closing, will be required to be given to consumers for mortgage applications received on or after August 1, 2015. For the complete rule and other materials about the final rule, please go to consumerfinance.gov/regulations.

    CFPB: High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Reg. Z) and Homeownership Counseling Amendments to the RESPA (Reg. X), (January 31, 2013) (Eff. January 10, 2014)

    The CFPB issued this final rule to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act’s amendments to the Truth in Lending Act and the Real Estate Settlement Procedures Act. The final rule amends Regulation Z (Truth in Lending) by expanding the types of mortgage loans that are subject to the protections of the Home Ownership and Equity Protections Act of 1994 (HOEPA), revising and expanding the tests for coverage under HOEPA, and imposing additional restrictions on mortgages that are covered by HOEPA, including a pre-loan counseling requirement. The final rule also amends Regulation Z and Regulation X (Real Estate Settlement Procedures Act) by imposing certain other requirements related to homeownership counseling, including a requirement that consumers receive information about homeownership counseling providers.

    This rule is effective January 10, 2014.

    CFPB: Integrated loan disclosure forms & samples: Closing Disclosure

    You can access downloadable Closing Disclosure forms in both English & Spanish and samples for different loan types.

    - Blank closing disclosure with fields annotated to show rule citations
    - Blank closing disclosure that illustrates the application of the rule’s content requirements
    - Blank closing disclosure that illustrates the alternative disclosures and modifications permitted for transactions without a seller
    - Blank closing disclosure that illustrates disclosure provided to seller
    - Blank page 2 of closing disclosure that illustrates modifications to closing cost details
    - Sample of a completed closing disclosure for fixed rate loan (companion to sample loan estimate above)
    - Sample of a completed closing disclosure for refinance (companion to sample loan estimate above)
    - Sample of the completed closing disclosure for refinance transaction where the closing costs have increased in excess of the good faith requirements
    *****

    CFPB: Integrated loan disclosure forms & samples: Loan Estimate

    You can access downloadable Loan Estimate forms in both English & Spanish and samples for different loan types.

    - Blank model loan estimate fields annotated to show rule citations
    - Blank model loan estimate form that illustrates the application of the rule’s content requirements
    - Blank model loan estimate that illustrates the application of the optional alternative tables for transactions without a seller
    - Sample of completed loan estimate for fixed rate loan
    - Sample of completed loan estimate for interest only, adjustable rate loan
    - Sample of completed loan estimate for refinance
    - Sample of completed loan estimate for balloon payment
    - Sample of completed loan estimate for negative amortization

    CFPB: Integrated loan disclosure forms & samples: Other blank forms and samples

    You can access downloadable other blank forms and samples.

    - Blank model form for the written list of settlement service providers
    - Sample of written list of providers you can shop for
    - Sample of written list of providers you cannot shop for
    - Blank model form of the escrow cancellation notice

    CFPB: Loan Originator Compensation Requirements under the Truth in Lending Act (Reg. Z), (February 15, 2013) (Eff. January 10, 2014)

    The final rule implements requirements & restrictions imposed by the Dodd-Frank Act concerning loan originator compensation; qualifications of, & registration or licensing of loan originators; compliance procedures for depository institutions; mandatory arbitration; & the financing of single-premium credit insurance.

    The amendments to § 1026.36(h) and (i) are effective on June 1, 2013. All other provisions of the rule are effective on January 10, 2014.

    CFPB: Loan Originator Compensation Rule video transcript (5/14/2013)

    CFPB video guidance and summary of the Loan Originator Rule. Highlights issues that small loan originators and creditors, and those that work with them, might find helpful to consider when implementing the rule.

    CFPB: Mortgage rules at a glance - 2013 HOEPA Rule - CFPB Bulletin 2013-13 (11/8/2013)

    CFPB Mortgage Origination Rules: Homeownership Counseling list requirements - The Consumer Financial Protection Bureau (CFPB) is issuing this bulletin to provide guidance to lenders regarding the homeownership counseling list requirement finalized in the High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z) and Homeownership Counseling Amendments to the Real Estate Settlement Procedures Act (RESPA Housing Counselor Amendments) Final Rule (2013 HOEPA Final Rule)1. Pursuant to the Dodd-Frank Act, the CFPB issued the RESPA Homeownership Counselor Amendments in January 2013, effective on January 10, 2014.

    CFPB: Mortgage rules at a glance - 2013 HOEPA Rule - Coverage and exemptions chart (11/4/2013)

    CFPB Mortgage Origination Rules: Transaction Coverage and Exemptions Chart.

    CFPB: Mortgage rules at a glance - 2013 HOEPA Rule - Summary of Interpretive Rule (11/4/2013)

    CFPB Mortgage Origination Rules: Summary of Interpretive Rule on Provision of Homeownership Counseling Organizations Lists, and related requirements.

    CFPB: Mortgage rules at a glance - Ability to Repay / Qualified Mortgage - Coverage and exemptions chart (11/4/2013)

    CFPB Mortgage Origination Rules: Transaction Coverage and Exemptions Chart.

    CFPB: Mortgage rules at a glance - Ability to Repay / Qualified Mortgage - Small creditor QMs flowchart (5/12/2014)

    CFPB Mortgage Origination Rules: Small creditor Qualified Mortgages flowchart.

    CFPB: Mortgage rules at a glance - Ability to Repay / Qualified Mortgage - What is a Qualified Mortgage? – A basic guide for lenders (11/4/2013)

    CFPB Mortgage Origination Rules: Basic guide for lenders - What is a Qualified Mortgage?

    CFPB: Mortgage rules at a glance - ECOA Valuations - Coverage and exemptions chart (11/4/2013)

    CFPB Mortgage Origination Rules: Transaction Coverage and Exemptions Chart.

    CFPB: Mortgage rules at a glance - Servicing TILA - Coverage of the Bureau’s 2013 mortgage servicing rules for loans and servicers (12/23/2013)

    CFPB Mortgage Servicing Rules: Coverage.

    CFPB: Mortgage rules at a glance - Servicing TILA - Implementation Guidance for Certain Mortgage Servicing Rules (10/15/2013)

    CFPB Mortgage Servicing Rules: Implementation Guidance for Certain Mortgage Servicing Rules. The Consumer Financial Protection Bureau (CFPB) is issuing this bulletin to provide guidance in implementing certain of the 2013 Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) Servicing Final Rules. The CFPB issued the 2013 RESPA and TILA Final Rules in January 2013 and they take effect on January 10, 2014.

    CFPB: Mortgage rules at a glance - TILA HPML Appraisals - Coverage and exemptions chart (11/4/2013)

    CFPB Mortgage Origination Rules: Transaction Coverage and Exemptions Chart.

    CFPB: Mortgage Servicing Rules video transcript (5/14/2013)

    CFPB video guidance to the 2013 Mortgage Servicing Rules. Mr. Mitchell Hochberg, senior counsel in the Office of Regulations at the Consumer Financial Protection Bureau, discusses the mortgage servicing final rule provisions.

    CFPB: Small Entity Compliance Guide: Escrow Requirements under the Truth in Lending Act (Reg. Z), (April 18, 2013) (Eff. June 1, 2013)

    Learn more about the background of this rule and how it affects providers of financial products and services.

    CFPB: Small Entity Compliance Guide: TILA-RESPA Integrated Disclosure rule, (September 2014)

    This is a plain-language guide to the new rules in a FAQ format which makes the content more accessible for industry constituents, especially smaller businesses with limited legal and compliance staff.

    CFPB: TILA Escrow Rule video transcript (5/14/2013)

    CFPB video guidance to the 2013 Mortgage Servicing Rules. Mr. Paul Mondor, Managing Counsel in the Office of Regulations at the CFPB, talks through the Bureau’s new escrows rule adopted in January 2013, effective June 1st, 2013.

    CFPB: TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure forms (September 2014)

    This document provides detailed, illustrated instructions on completing the Loan Estimate and Closing Disclosure.

    This Guide also highlights common situations hat may arise when completing the Loan Estimate and Closing Disclosure.

    Changes related to the TILA-RESPA rule may take careful planning, time, or resources to implement. This Guide will help you identify and plan for any necessary changes.

    This Guide is not a substitute for the TILA-RESPA rule. Only the rule and its Official Interpretations (also known as commentary) can provide complete and definitive information regarding its requirements.

    CFPB: TILA-RESPA Integrated Disclosure rule implementation

    This CFPB web page provides resources to help you comply with the new TILA-RESPA Integrated Disclosure rule.

    The page includes links to:

    • A plain-language guide to the new rules in a FAQ format which makes the content more accessible for industry constituents, especially smaller businesses with limited legal and compliance staff.
    • A guide to forms, which provides detailed, illustrated instructions on completing the Loan Estimate and Closing Disclosure.
    • Numerous downloadable blank Loan Estimate and Closing Disclosure forms in both English & Spanish, along with sample completed forms for different loan types.

    CFPB: TILA-RESPA Integrated Disclosures Rule Webinar (6/17/2014)

    Presented by the Consumer Financial Protection Bureau (CFPB) this discussion is the first of a recurring series of webinars to address the new TILA-RESPA Integrated Disclosures rule. The new rule consolidates existing mortgage disclosures required under TILA and RESPA into two integrated forms designed to make it easier for consumers to understand and locate key information, and also integrates the substantive and procedural requirements for providing these disclosures to consumers.


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