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On April 30, 2014, the Consumer Financial Protection Bureau (CFPB) announced proposed minor changes to mortgage rules. The modifications include provisions primarily to address the impact of the new origination and servicing rules on non-profit housing providers, which include:
The CFPB is seeking your comments on these proposed amendments before June 5, 2014.
In addition, the CFPB is seeking comments on additional mortgage lending topics:
Comments on the above items must be received July 5, 2014.
To submit your comments on mortgage two ways
If you have questions about how this could impact your mortgage servicing operations, contact our compliance specialists in Michigan, Houston or Ft. Lauderdale.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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