In this issue:
- Mortgage Loans
- Student Loans
- Miscellaneous Bureau Activities
- Outstanding Federal Register Publications
- Upcoming Regulations
An excerpt from "Mortgage Loans"
The CFPB, on its own and with a number of other federal banking regulatory agencies, issued two proposed regulations relating to appraisals. The first, issued by the CFPB, amended Regulation B to provide for a new appraisal disclosure and impose a duty to provide applicants with a copy of the appraisal (the “ECOA Appraisal Rule”). The second addressed appraisal requirements for “higher risk” mortgages (the “High Risk Appraisal Rule”). Comments for both proposals are due by October 15, 2012.
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