CFPB Announces Availability Of Revised Publications To Be Provided By Lenders To Mortgage Applicants

more+
less-
more+
less-
Explore:  CFPB Lenders Mortgages

The Consumer Financial Protection Bureau (“CFPB”) has announced the availability of three revised consumer publications that mortgage lenders are required to provide to applicants for certain residential mortgage loans. The three publications are:

  • What You Should Know About Home Equity Lines of Credit
  • Consumer Handbook on Adjustable-Rate Mortgages
  • Shopping for Your Home Loan: Settlement Cost Booklet

The CFPB has stated that lenders may start using the new publications immediately, or they may use their existing stock of these publications until such stock is exhausted. When reprinting or reordering these publications, the revised versions should be used.

The revisions to these publications generally reflect changes made to mortgage regulations as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the transfer of authority over these publications to the CFPB from the Federal Reserve Board and the Department of Housing and Urban Development.

The CFPB notice states that copies of the revised publications may be obtained from the CFPB’s website, but as of the date of this Advisory, the revised publications were not yet posted on that website.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Cullen and Dykman LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×