In remarks recently at an event of the U.S. Chamber of Commerce, CFPB Director Richard Cordray spelled out how the bureau is trying to aid the mortgage industry’s compliance efforts by promoting greater understanding of its rules, as well as regulatory review, streamlining and modernization. “Our efforts with the mortgage rules went much further than simply reacting passively to industry inquiries (though we have fielded thousands of them),” the director said. “We also took affirmative steps to help the industry understand our rules through publications, videos, webinars, and phone calls with individual institutions.” The bureau adopted a diagnostic and corrective approach to supervision in the early months to ease anxieties about the difficulties of complying with certain components of the ...