NY state senator convicted in foreclosure embezzlement scheme

NY state senator convicted in foreclosure embezzlement scheme

Pay-offs, fraud and bribery marked Democrat senator’s tenure

Weiss Residential: Nearly half of homes in top markets losing value

"Here's where the next housing crash will start"

Small Texas bank winning big fight against CFPB

Court of Appeals upholds bank’s challenge to regulator
W S
Lending / The Ticker

CFPB clarifies servicing, mortgage originator rules

/ Print / Reprints /
| Share More
/ Text Size+

In effort to ease the transition into the new compliance and regulation rules by the Consumer Financial Protection Bureau, the bureau keeps releasing guides to provide an overview of the rules in a plain language.

Most recently, the CFPB released a summary outline of the final rule on mortgage originator qualifications and compensation practices. In addition, the CFPB released a summary of the final mortgage servicing rules. 

The servicing summary covers nine major topics, including periodic billing statements, force-placed insurance and early intervention with delinquent borrowers. 

Meanwhile, the mortgage loan originator guide focuses on the critical role that loan officers and mortgage brokers play in the loan origination process, the CFPB said. 

The Bureau said it plans to update the guides periodically as rule clarifications are finalized.

Recent Articles by HousingWire Staff

Comments powered by Disqus