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Comp Blog

New - Jan.9: NCUA Regulatory Alerts/ More

By: Danielle Wright

CommentThursday - January 9, 2014

NCUA Regulatory Alerts

NCUA released a regulatory alert on the mortgage servicing requirements from the CFPB under TILA.  The effective date for the TILA Mortgage Servicing rule is tomorrow (January 10, 2014).  In addition to the regulatory alert released late yesterday (14-RA-03).  NCUA recently released two other regulatory alerts and a supervisory letter- see below for links the 2014 Regulatory Alerts and Supervisory Letter.

Regulatory Alert: Mortgage Servicing Requirements from the Consumer Financial Protection Bureau (CFPB) under the Truth in Lending Act (TILA), 14-RA-03.

Regulatory Alert: New Homeownership Counseling and Consumer Protection Requirements from CFPB, 14-RA-02.

Regulatory Alert: Ability-To-Repay and Qualified Mortgage Requirements from the Consumer Financial Protection Bureau (CFPB), 14-RA-01.  

Supervisory Letter: Supervisory Guidance on Qualified and non-Qualified Mortgages, 14-CU-01.

NCUA and CFPB Town Hall Meeting

NCUA Board Chairman Matz and CFPB Director Cordray will host a free town hall meeting on February 12, beginning at 3 pm ET. During the webinar, participants will be able to pose questions about any topic relating to the credit union industry or the work of CFPB. Online registration is required.  The announcement is here, and the link to register for the free town hall meeting is here.

CFPB: What the new mortgage rules mean to consumers

A USA Today.com opinion editorial by Director Cordray explaining what the new CFPB mortgage rules mean to consumers who are shopping for a home loan and while they own their homes and a blog post were released by the CFPB. Click here for the Bureau’s blog post, and here for the op-ed piece posted on the CFPB site.






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