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Guides to how the Bureau will supervise and examine entities under its jurisdiction for compliance with Federal consumer financial law. See the CFPB mortgage origination examination procedures. See the mortgage rules readiness guide , version 4.0. Supervisory Highlights.
These Mortgage Origination Examination Procedures consist of modules covering the various elements of the mortgage origination process; each module identifies specific matters for review. Examiners will use the Procedures in examinations of mortgage brokers and mortgage lenders.
Loan Originator Rule for individual loan originators while they are authorized to act as a loan originator with temporary authority under the SAFE Act (Sections 1, 2.3, and 10).
Unofficial redline of the 2021 mortgage servicing COVID-19 final rule. Table listing the Bureau's mortgage servicing proposed and final rules. Small servicers and key provisions of the 2016 mortgage servicing rules. Factsheet on delinquency and the 2016 mortgage servicing rules.
Loan Originator Compensation Requirements (Regulation Z) The CFPB amended Regulation Z to implement mandated requirements and restrictions on: loan originator compensation; qualifications of, and registration or licensing of loan originators;
If the entity originates high-cost mortgage loans (12 CFR 1026.32) or higher-priced mortgage loans (12 CFR 1026.35), assess compliance with provisions concerning the borrower’s repayment ability for, high-cost mortgages, including required documentation of income and assets.
Compliance Guide to Small Entities. Regulation Z: Loan Originator Compensation and Steering. This guide was prepared by the staff of the Board of Governors of the Federal Reserve System as a "small entity compliance guide" under Section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996, as amended.
Mortgage Compliance Guide. Each company/originator must maintain complete and readily accessible records, including a current and complete mortgage transaction log, policies and procedures, required booklets, advertising and marketing materials, compensation agreements, vendor contracts, and complete loan files.
Explore resources to help you comply with regulations and other legal requirements related to originating and servicing mortgage products.
The CFPB recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule.