This opinion piece looks at how new CFPB rules could induce "brain freeze" for credit union mortgage lenders.
Director Richard Cordray said Dodd-Frank requires additional reporting, and CFPB is considering its own new requirements.
Bureau provides clarification on contacting delinquent borrowers and guidance on home retention efforts after a borrower dies.
NAFCU general counsel Carrie Hunt says she still sees "negative downstream effect" in proposed changes to qualified residential mortgage rules.
Proposed rule adds some exemptions to Dodd-Frank requirements set to take effect next January.
The Consumer Financial Protection Bureau is now requiring lenders to ensure that homebuyers can actually pay their mortgage before lending them the money.
Recently finalized rules and regs on mortgages expected to be among topics.
Mortgage rules expected at Baltimore meeting next week; remittance rules expected to be posted on agency website in weeks to come.
Would require lenders to offer a mortgage without discount points or origination points or fees, unless borrower is unlikely to qualify.
Rules would require monthly statements, more complete disclosures and restrictions on forced-placement mortgage insurance.