What were some of the final rules over the summer? What are we currently expecting from the Qualified Residential Mortgage Rule? What is CFPB doing to help us prepare for 2014? Looking for some easy answers to these questions? Don't wait until January 10, 2014. View or download our newest resource, CFPB: Where Do We Go From Here? Looking for more free CFPB resources? Visit www.allregs.com.

1. SUMMER 2013
Final Rule: Integration
of Disclosures under
RESPA & TILA
CFPB
1,099
pages of
complicated
changes in
proposed rule
During the loan
application, the
Good Faith Estimate (GFE) and
Truth in Lending Statement (TIL)
replaced by a three-page
loan estimate.
During closing,
TIL and the HUD-1
replaced by a
five-page closing
disclosure
www.allregs.com
Where Do
We Go From
Here?
Coordinate with Other
Agencies to Ensure a Shared
Understanding of the
New Rules
Publish
Plain-Lanquage
Guides
Publish Updates to the
Official Interpretations
to Address Questions
or Issues
Posting of
Videos on YouTube
Explaining the Rules
Publish
Readiness
Guides
Educate
Consumers
In 2013, CFPB is planning to
prepare the mortgage industry for
compliance in the following ways:
Sources:
The CFPB Website
http://www.consumerfinance.gov/
AllRegs Compliance Commentary: 2011 - The Year of the Bureau of Consumer Financial Protection. What’s Ahead for 2012?
http://solutions.allregs.com/2011-the-year-of-the-bureau-of-consumer-financial-protection/
AllRegs Compliance Commentary: 2012: A Year for Proposals, 2013: A Year for Action
http://solutions.allregs.com/2012-a-year-for-proposals-2013-a-year-for-action/
AllRegs Compliance Commentary: 2013 Regulatory Reform Series: Qualified Mortgage, High Cost Mortgages and Higher-Priced Mortgage Loans
http://solutions.allregs.com/may-the-regulators-be-ever-in-your-favor/
AllRegs Compliance Commentary: CFPB Announces Implementation Plan for New Mortgage Rules
http://solutions.allregs.com/cfpb-announces-implementation-plan-for-new-mortgage-rules/
AllRegs Compliance Commentary: CFPB Finalizes Mortgage Servicing Rules under RESPA and TILA
http://solutions.allregs.com/cfpb-finalizes-mortgage-servicing-rules-under-respa-and-tila/
AllRegs Compliance Commentary: CFPB Issues Ability-to-Repay and Qualified Mortgage Final Rule
http://solutions.allregs.com/cfpb-issues-ability-to-repay-and-qualified-mortgage-final-rule/
AllRegs Compliance Commentary: CFPB Issues Rule to Protect Consumers from Irresponsible Mortgage Lending
http://solutions.allregs.com/cfpb-issues-rule-to-protect-consumers-from-irresponsible-mortgage-lending/
AllRegs Compliance Commentary: CFPB Monitors Mortgage Servicing Transfer Activity
http://solutions.allregs.com/cfpb-monitors-mortgage-servicing-transfer-activity/
AllRegs Compliance Commentary: CFPB Releases Consumer Complaint Data
http://solutions.allregs.com/cfpb-releases-consumer-complaint-data/
Consumer Financial Protection Bureau Lays Out Implementation Plan for New Mortgage Rules by the CFPB
http://www.consumerfinance.gov/pressreleases/consumer-financial-protection-bureau-lays-out-implementation-plan-for-new-mortgage-rules/
AllRegs Compliance Commentary: Financial Reform: The Bureau of Consumer Financial Protection
http://solutions.allregs.com/pages/Bureau-of-Consumer-Financial-Protection.html
The Woman Who Knew Too Much
http://www.vanityfair.com/politics/features/2011/11/elizabeth-warren-201111
Copyright 2013 AllRegs. All Rights Reserved.
www.allregs.com
To get your team ready for CFPB compliance,
learn more about our Compliance Management System at
http://solutions.allregs.com/compliance-management-system/
Results of the Final Rule for
Qualified Residential Mortgage (QRM):
5% risk
retentionprovisions(“skin in the game”)
New Proposed Rule defining QRM
as a Qualified Mortgage
(QM) “plus”!
(with potential for additional U/W parameters)
Affects loan
securitization
Here are some highlights
from the proposed rule!