Regulatory Compliance
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CFPB’s Latest Guidance

In case you missed it, the CFPB issued more “guidance” this week related to the mortgage rules. The guidance includes a bulletin as well as a webinar hosted by the Mortgage Bankers Association. The webinar indicates that it is “unofficial guidance” on the servicing rules. And, I almost forgot, the CFPB also issued an interim final rule. As a reminder, this is our” new normal” for compliance as the CFPB will continue to issue information and interpretations that may change how you implement these new rules.

Another resource that you might want to utilize with all of these changes is BankersOnline Alphabet Soup. This is a great resource for seeing all the changes to the rules in one place. They have just made some enhancements to Alphabet Soup and already have the October 15 interim final rule posted.

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