CFPB: Schedule of Rulemaking Initiatives

We have compiled the following schedule for the salient rulemaking initiatives of the CFPB regarding mortgage compliance.

The calendar covers August 2012 through June 2013.

I hope you will find it useful.*

IN THIS ARTICLE

August 2012

September 2012
December 2012

January 2013

April 2013

June 2013

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August 2012

• Appraisals: proposed rule regarding appraisal changes required by Dodd-Frank's Truth-in-Lending and FIRREA amendments.
• Mortgage originator standards: proposed rule on mortgage originator standards.
• Mortgage servicing: proposed rule on mortgage servicing requirements.
• Copies of appraisals: proposed rule on copies of appraisals and other valuations to be furnished by creditors under Regulation B.
• Remittance transfers: final additional rule on remittance transfers.

September 2012

• Supervision of larger depository institutions and affiliates: proposed rules to clarify coordination between the CFPB and prudential regulators.

December 2012

• Second in a series of definitions of "larger participants": final rule to include debt collectors.
• Mandatory escrows/disclosures: final rule regarding mandatory escrow accounts and escrow account disclosures.
• Confidential treatment: final rule on confidential treatment of privileged information.

January 2013

• Registration of nonbank covered persons: advanced notice of proposed rulemaking on registration of certain nonbank covered persons.

 
On or by January 21, 2013  

• Final rules regarding appraisals (Truth-in-Lending and FIRREA).
  
• Final rules on high-cost mortgages.
  
• Final rule on mortgage originator standards.
  
• Final rules on mortgage servicing.
  
• Final rule on copies of appraisals or other valuations to be furnished by creditors under Regulation B.
  
• Final ability-to-repay (ATR) rule. 

 
After January 21, 2013  

• RESPA/TILA disclosure integration: final rule.

April 2013

• HMDA: initiation of implementation planning for Home Mortgage Disclosure Act changes - additional data collection.

June 2013

• AMTPA: proposed broader Alternative Mortgage Transaction Parity Act (AMTPA) rule.
  
• Regulation B lending data: initiation of implementation planning for collection of additional women- or minority-owned and small business lending data under Regulation B.

Library

CFPB Library – Lenders Compliance Group
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 *Jonathan Foxx is the President & Managing Director of Lenders Compliance Group