Bureau says new rule follows up on questions since implementation began in January.
The Consumer Financial Protection Bureau proposed some tweaks and clarifications to its January 2013 mortgage rules on June 24, addressing some credit union concerns.
Among the seven clarifications is a proposed change regarding the ban on financing credit insurance premiums.
CFPB on Wednesday issued an amended final qualified mortgage rule that provides new exemptions for small lenders.
The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.
Originators also can't be paid more for pushing higher interest rates, selling title insurance. Criminal background checks also required.
Would require lenders to offer a mortgage without discount points or origination points or fees, unless borrower is unlikely to qualify.