The CFPB published guidance to remind the mortgage industry of numerous U.S. Department of Housing and Urban Development (HUD) policy statements that were issued before the CFPB assumed authority for enforcing the Real Estate Settlement Procedures Act (RESPA). The CFPB reiterates that official guidance documents issued by other agencies prior to the 2011 transfer would be applied by the CFPB unless they were superseded by law.

The CFPB states the following HUD documents continue to be applied today, and the CFPB notes that the list is not exhaustive of all HUD documents that continue to apply:

In the guidance the CFPB references, and includes a link to, a July 2011 Transfer of Authorities Notice, in which the CFPB confirmed rules and related regulatory actions issued by other agencies that were transferring to the CFPB. With regard to policy statements, that Notice provided “the CFPB notes that for laws with respect to which rulemaking authority will transfer to the CFPB, the official commentary, guidance, and policy statements issued prior to July 21, 2011, by a transferor agency with exclusive rulemaking authority for the law in question (or similar documents that were jointly agreed to by all relevant agencies in the case of shared rulemaking authority) will be applied by the CFPB pending further CFPB action.” Over the years, statements made by, and positions taken by, the CFPB reflected that it was applying the guidance set forth by HUD in the listed policies, such as Statement of Policy 1996-2, Regarding Sham Controlled Business Arrangements (which are now referred to as “affiliated business arrangements”).

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