Written By: Tammy Butler, Master CMB Annual Thresholds for Qualified Mortgages have been issued by the CFPB. Rule Synopsis: The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule reviews the dollar amounts for provisions implementing TILA and amendments to TILA, including the Home Ownership and [...]
Written By: Tammy Butler, Master CMB The CFPB continues to clarify industry questions from lenders regarding TRID disclosures and RESPA requirements. In this update the bureau addresses construction loans. Rule Synopsis: Periodically, the CFPB issues clarifications to the very complex TRID-RESPA rules. They communicate these clarifications through the TRID-RESPA FAQs, which we have attached below [...]
Written By: Tammy Butler, Master CMB Hooray! More clarity on TRID! Anytime we donât have to guess what to do regarding disclosures, is a happy day. Read this quick FAQ to learn more. Rule Synopsis: On October 3, 2015 [yes, 3.5 years ago] TRID [TILA-RESPA Integrated Disclosure] changed the way that mortgage lenders disclose loans. With [...]
Written By: Tammy Butler, Master CMB Each year, the CFPB is mandated to adjust tolerance thresholds under HOEPA and QM. Be sure to read this article to understand what is changing and when it goes into effect. Rule Synopsis: The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; [...]
By: Tammy Butler, Master CMB The CFPB updated their 1585 page exam manual effective March of 2018. All compliance professionals should use this as their âhow to do business and stay in businessâ guide. If you are in compliance or just interested in what the examiners review be sure to read this article and download the [...]