General World News

CFPB asks for public comment on Reg Z’s mortgage LO rules

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 ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com