InfoBytes Blog
Buckley & American Bankers Association Release CFPB Mortgage Origination Deskbook
Buckley is pleased to announce the availability of "The New CFPB Mortgage Origination Rules Deskbook." The CFPB Deskbook, published in partnership with the American Bankers Association, is an all-inclusive compilation of all the mortgage origination rules made by effective by the Consumer Financial Protection Bureau (CFPB) in January 2014, including:
- Ability-to-Repay and Qualified Mortgage requirements
- Points and Fees
- Loan Originator Compensation
- Appraisals
- High-Cost Mortgages
- Qualified Mortgage Provisions for Federal Housing Administration and Veterans Affairs loans
- Summary of the TILA-RESPA disclosure integration taking effect in 2015
"Our goal was to consolidate the numerous sources of CFPB regulatory guidance into a clear, organized format," said Reilly. "We wanted to provide comprehensive descriptions from not just the rule text and official commentary but also from CFPB webinars, compliance guides, preamble material from federal register releases and informal compliance discussions with CFPB staff. We hope this will be a "one-stop shop" for origination compliance." Benjamin K. Olson, former Deputy Assistant Director in the CFPB's Office of Regulations who was involved in the development of many of the rules covered by the CFPB Deskbook, describes it as "an invaluable resource with the potential to change the way regulations are understood." The CFPB Deskbook is available in PDF and hard copy formats. Requests for copies should be sent to CFPBDeskbook@buckleyfirm.com.