Company rolls out new software providing TILA-RESPA support, plans to work more closely with Fannie.
Trades support a Jan. 1 deadline; NAFCU calls for a compliance testing period for credit unions.
In a letter, CUNA asks the CFPB to push back the deadline to Jan. 1, 2016.
Only three circumstances will require additional review time for borrowers, Cordray says.
ORLANDO - New rules could complicate credit union vendor relations too, attorney says.
Session comes as modifications are set to go into effect Aug. 1.
The Supreme Court TILA disclosure ruling will not affect credit unions that already follow TILA best practices.
Expect the CFPB to scrutinize overdrafts, payday lending, prepaid cards, auto loans and mortgage lending.
CUNA, NAFCU and other trades also ask for written guidance.
But Dodd-Frank requires fees and closing costs to be included in calculations, so bureau finding a way, director said.