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Friday, May 3, 2013

CFPB Issues ‘Small Entity Compliance Guides’ to Mortgage Rules

The CFPB has published Small Entity Compliance Guides to three of recently finalized mortgage rules related to expanded Home Ownership and Equity Protections Act coverage, appraisals and appraisals for higher-risk mortgages.

The guides are intended to provide an overview of the rules in a plain language and FAQ format so that the content is more accessible for a range of industry constituents, especially smaller businesses with limited legal and compliance staff.

Read the guide for the HOEPA rule.
Read the guide for the appraisals rule.
Read the guide for the higher-risk mortgage appraisals rule.

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