ABA and law firm BuckleySandler released an updated version of “The New CFPB Mortgage Origination Rules Deskbook,” a free and comprehensive reference guide to help bankers understand and comply with the CFPB’s rules when originating loans.
The updates reflect a final rule issued by the CFPB on curing excess points and fees on Qualified Mortgages and an announcement by the Department of Housing and Urban Development on its own QM definition. They also cover the bureau’s July guidance on the definition of a loan originator.
Since its release in October, the ABA members-only deskbook has been downloaded nearly 8,000 times. Available in a printable electronic format, it consolidates all available CFPB compliance guidance. In addition to the rule text and official commentary, the deskbook encompasses CFPB interpretive rules, bulletins, small entity compliance guides, webinars and conference presentations and is intended to be a “one stop shop” for origination compliance.
To complement the deskbook, ABA will offer a series of five briefings and webcasts on mortgage origination starting in January.
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