CFPB launches site summing up new rules

by Diana Aqra13 Jun 2013

To help the industry comply, implementation information for all new mortgage rules under Dodd-Frank will now be combined on one website, the Consumer Financial Protection Bureau announced today.

Specifically, the bureau has laid out 2013 rule implementation for the “ability to repay/qualified mortgage” rule, 2013 HOEPA rule, loan originator compensation, TILA HPML appraisals, escrows and other rules.

According to the CFPB’s implementation page, “[CFPB’s] plan is to work with the mortgage industry to ensure that the CFPB’s new rules are implemented accurately and expeditiously. Both consumers and industry will win when the new rules are understood, applied and carried out evenly and effectively.”

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