Mortgage Compliance Changes

The mortgage market collapse brought significant legislative and regulatory change initiatives designed to enhance consumer protection, industry practices and procedures. As part of these initiatives, provisions within the Dodd-Frank Wall Street Reform and Consumer Protection Act established the Consumer Finance Protection Bureau (CFPB) to enhance consumer protections by granting CFPB oversight authority around the consumer finance industry.

The new CFPB servicing rules made significant changes to the Real Estate Settlement Procedures Act (Regulation X) and Truth in Lending Act (Regulation Z).  A guide has been 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. The guide summarizes and explains the rules and can be referred to at http://www.federalreserve.gov/bankinforeg/regzcg.htm

For complete mortgage loan program details and to find out if you qualify, contact us today at 888-488-3807 or go to www.OneTrustHomeLoans.com.

FacebookTwitter

Read All of Our Amazing Client Success Stories

Read More