Rural Area Comment Period Ends; What the CFPB’s Supervisory Highlights Tell Lenders

By Rob Chrisman

Posted To: Pipeline Press

Yesterday we had plenty of CFPB updates , and let’s continue with those. Remember that even though although your bank or mortgage operation is thought to be too small to be examined, the CFPB’s actions echo through the residential lending industry. And although as time passes and more information comes out to clarify things, unfortunately there are still plenty of gray areas and using the interpretation of enforcement actions in determining policy. Is that any way to run an industry? CFPB-watchers know it revised the chapters of its Supervision and Examination Manual specific to TILA and RESPA , incorporating the TILA/RESPA integrated disclosures (TRID) requirements that are set to take effect on August 1. These chapters replace versions of the TILA and RESPA procedures released in late 2013…(read more)

Via:: Rural Area Comment Period Ends; What the CFPB’s Supervisory Highlights Tell Lenders