The Consumer Financial Protection Bureau (CFPB) on Friday issued an official request for comment as it conducts a review of Regulation Z’s mortgage loan originator rules. The CFPB is seeking to understand the economic impact the rules have on smaller businesses in the mortgage space.
Regulation Z is a broad-based rule that implements the Truth in Lending Act (TILA), imposing requirements on several facets of business in the mortgage space, including loan originator compensation; loan originator licensing; compliance procedures for depository institutions; mandatory arbitration guidelines; and the financing of single premium credit insurance.
“As part of this review, details ⇒
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