News - CFPB Only

[Brian Gibbons]

I started this thread because I have email alerts on the CFPB every morning in my email.

Here is the newest one.

http://www.housingwire.com/articles/print/29846-cfpb-proposes-3-changes-to-mortgage-rules

The CFPB’s proposes 3 changes....

1. Adjusts the definition of nonprofit small servicers

2. Amends the nonprofit “ability-to-repay” exemption

3. Enables lenders to exceed QM points and fees cap if the overage is refunded quickly

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For the interested in seller financing,

CFPB

http://en.wikipedia.org/wiki/CFPB

Dodd Frank

http://en.wikipedia.org/wiki/Dodd_Frank

SAFE Act

http://en.wikipedia.org/wiki/Secure_and_Fair_Enforcement_for_Mortgage_Licensing_Act_of_2008#Secure_and_Fair_Enforcement_for_Mortgage_Licensing_Act_of_2008

TILA - Reg Z

http://en.wikipedia.org/wiki/Truth_in_Lending_Act

TILA RESPA

http://www.consumerfinance.gov/regulatory-implementation/tila-respa/