The Consumer Financial Protection Bureau on Wednesday providedmore details on how it will help regulators and lenders comply withthe bureau's new mortgage regulations.

The effort will address rules finalized last month definingqualified mortgages, a consumer's ability to repay, and newrules for mortgage servicers that go into effect in January 2014.

The initiatives were announced by CFPB Director Richard Cordray during a Feb. 5webinar sponsored by the NCUA.

First, the CFPB will coordinate with other regulators to ensurethey have a shared understanding of the new rules. Cordray saidduring the webinar that the bureau will work with the NCUA toprepare training materials for NCUA examiners. The NCUA is chargedwith ensuring CFPB compliance for all federally insured creditunions except those with more than $10 billion in assets, whichwill be examined by the CFPB.

The CFPB also said it will publish easy-to-understand summariesof the regulations in both written and video form. The guides,which the bureau said will be made available in the spring, aredesigned to help smaller businesses with limited compliancestaff.

Guidance updates will also be issued over the next year, whichwill allow the CFPB to address important questions raised byindustry, consumer groups, or other agencies. Priority for theseupdates will be given to issues that are important to a largenumber of providers or consumers, and that critically affectmortgage companies' implementation decisions. The CFPB said itexpects to issue the first one in the spring and issue additionalupdates, as needed.

Readiness guides, which the CFPB said will be available thissummer, will provide originators and servicers with compliancecheck lists. The FederalFinancial Institutions Examination Council will also publishexam procedures later this year, which lenders can use to conductcompliance self-assessments and internal reviews.

Finally, the CFPB said it will launch a consumer educationcampaign that will inform them about the rules.