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News Now

Washington
New Resource Compiles CUNA Mortgage Compliance Tools
WASHINGTON (9/18/13)--There is a new, one-stop compliance resource page to help all Credit Union National Association members with compliance issues related to the Consumer Financial Protection Bureau's 2013 mortgage rules.
 
Valerie Moss, CUNA senior director of compliance analysis, in unveiling the new resource noted that the CFPB has issued more than 5,000 pages of new regulatory requirements for mortgages, including its Qualified Residential Mortgage and Ability-to-Repay rules. They go into effect in January 2014.
 
"CUNA's compliance team has been working at a feverish pace over the past few months to provide credit unions with useful compliance information to help them make sense of the 5,000-plus pages of new regulatory requirements," Moss said. "CUNA members can now access all that information in a single location." (Use resource link.)

Notable resources available to credit unions on the new mortgage rules include:
  • CUNA's e-Guide, a dues-supported online compliance manual, which contains summaries, resources, latest developments and frequently asked questions on the rules;
  • CompBlog, CUNA's dues-supported compliance blog, which regularly covers the new rules among many other hot compliance topics;
  • CUNA's CompBlog Monthly Wrap Up newsletter, a compilation of the month's best compliance information;
  • Compliance articles in Credit Union Magazine exploring several of the new mortgage rules;
  • Compliance charts on the various regulations, complete with key dates;
  • Training opportunities available from CUNA's Center for Professional Development; and
  • CompNotes, CUNA's newest resource that breaks each rule down into more manageable pieces.
To access CUNA's new, one-stop compliance resource page, CUNA members can use the resource link below.
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