A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
On September 5, 2014, the Department of Veterans Affairs (VA) announced in Circular 26-14-25 that it intends to clarify its interest-rate adjustment, disclosure, and notice requirements for ARM and hybrid ARM mortgage loans...more
On May 8, 2014, HUD issued a Proposed Rule meant to align HUD rules governing FHA-insured ARMs with the recent CFPB rules regarding ARM interest rate adjustment and disclosures under Regulation Z (ARM Rules). Comments on the...more
While the new regulations implemented by the Consumer Financial Protection Bureau (CFBP) are designed to apply primarily to big banks and loan servicers, the regulatory environment for small and community banks will also be...more