TopMortgage Compliance Update (1)
 

August 1, 2012 

 


CFPB: Schedule of Rulemaking Initiatives


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Greetings! 

We have compiled the following schedule for the salient rulemaking initiatives of the CFPB regarding mortgage compliance.

The calendar covers August 2012 through June 2013.

I hope you will find it useful.

Regards,
Jonathan Foxx
President & Managing Director
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  • Appraisals: proposed rule regarding appraisal changes required by Dodd-Frank's Truth-in-Lending and FIRREA amendments.
  • Mortgage originator standards: proposed rule on mortgage originator standards.
  • Mortgage servicing: proposed rule on mortgage servicing requirements.
  • Copies of appraisals: proposed rule on copies of appraisals and other valuations to be furnished by creditors under Regulation B.
  • Remittance transfers: final additional rule on remittance transfers.
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  • Supervision of larger depository institutions and affiliates: proposed rules to clarify coordination between the CFPB and prudential regulators.
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  • Second in a series of definitions of "larger participants": final rule to include debt collectors.
  • Mandatory escrows/disclosures: final rule regarding mandatory escrow accounts and escrow account disclosures.
  • Confidential treatment: final rule on confidential treatment of privileged information.
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  • Registration of nonbank covered persons: advanced notice of proposed rulemaking on registration of certain nonbank covered persons.

On or by January 21, 2013

 

  • Final rules regarding appraisals (Truth-in-Lending and FIRREA).
  • Final rules on high-cost mortgages. 
  • Final rule on mortgage originator standards. 
  • Final rules on mortgage servicing. 
  • Final rule on copies of appraisals or other valuations to be furnished by creditors under Regulation B.
  • Final ability-to-repay (ATR) rule.  

 

After January 21, 2013

 

  • RESPA/TILA disclosure integration: final rule. 
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  • HMDA: initiation of implementation planning for Home Mortgage Disclosure Act changes - additional data collection.
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  • AMTPA: proposed broader Alternative Mortgage Transaction Parity Act (AMTPA) rule.
  • Regulation B lending data: initiation of implementation planning for collection of additional women- or minority-owned and small business lending data under Regulation B.
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This communication is sent to our valued clients and colleagues, who regularly receive our Mortgage Compliance Updates, Compliance Alerts, Commentaries, and related publications.

These publications are free to subscribers. Information contained herein is not intended to be and is not a source of legal advice.

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