Bureau Issues Exam Procedures For January Mortgage Rules
June 17, 2013
The CFPB has published the first update to its exam procedures for the new mortgage regulations it issued in January 2013 having to do with appraisals, escrow accounts, and compensation and qualifications for loan originators. The exam procedures offer financial institutions and mortgage companies guidance on what the CFPB will be looking for as the rules become effective. The CFPB recognizes that the easier we make it for financial institutions and mortgage companies to follow the new regulations, the better off consumers...