Implementation of the new mortgage rules are in full swing as fall approaches. A few credit unions have recently asked me for helpful resources to learn more about the new mortgage rules. One site I point folks to is the CFPB’s Mortgage rules at a glance page. If you’re responsible for compliance or lending in your credit union I recommend you take a look at this resource from the CFPB.
This web page has a list of the CFPB’s final mortgage rules, links to the CFPB’s video guides, comparison charts, and other resources. If you scroll to the bottom of the page you will find a list of updates and changes that have been made to the mortgage rules. As you create your implementation plan to comply with the new rules it is important to ensure there have not been changes to the “final” rules that will affect your plan for compliance.
It’s back to school for more than just the students!