In the immortal words of Bruce Buffer, “Are you ready to rumble?” Or you could just ask yourself, “are you ready for the upcoming mortgage rule changes?”
On July 8th, the Consumer Financial Protection Bureau (CFPB) released the 2013 CFPB Dodd-Frank Mortgage Rules Readiness Guide. This guide is intended to “help institutions come into and maintain compliance with the new mortgage rules.”
The Guide itself consists of 22 pages that has 4 parts that cover:
- Summary of the Rules
- Readiness Questionnaire
- Frequently Asked Questions
Please take the opportunity to review this Guide and use it so you don’t get knocked out by the new mortgage rules.