The Consumer Financial Protection Bureau Monday proposed sometweaks to its January 2013 mortgage rules, addressing concerns thathad been raised by credit unions.

Among the seven clarifications is a proposed change regardingthe ban on financing credit insurance premiums included in theCFPB's mortgage originator compensation rule. The provision causedconfusion because its vague language could potentially be appliedto transactions other than the single-premium credit insurancepremium it was intended to address.

Monday's proposal would clarify what constitutes financing ofcredit insurance premiums by a creditor–particularly as the ruleapplies to “level” or “levelized” premium–where the monthly premiumis the same each month rather than decreasing along with the loanbalance. The proposal would also provide guidance on when creditinsurance premiums are considered to be calculated and paid on amonthly basis for purposes of an exclusion from the statutoryprohibition.