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Tuesday, July 9, 2013

CFPB Issues ‘Readiness Guide’ on Mortgage Rules

The CFPB yesterday released a “readiness guide” for its new mortgage rules, most of which take effect early next year.

The guide includes a questionnaire that banks can use as a self-assessment tool to determine their progress in developing an implementation plan, adjusting policies and procedures, training employees, handling complaints, managing third-party relationships and other topics.

It also includes a list of frequently asked questions and resources for banks as they prepare to comply with the new rules.

View the guide.

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