The CFPB issued final rules Thursday intended to clarify andrevise its mortgage servicing guidelines – regulations that some creditunions said will increase the heavy regulatory burden they alreadyface.

The rules – issued as a result of the Dodd-Frank Act andencompassing more than 900 pages –amend regulations the agencyfirst issued in 2013. The rules implement provisions of the RealEstate Settlement Procedures Act (Regulation X) and the Truth inLending Act (Regulation Z).

The rules came on the heels of a GAO study, which found anincreased regulatory burden has not yet dissuaded credit unions from originating andservicing mortgages at least as much as they have in the past.

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