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MCUA Sends Comments to CFPB Concerning Mortgage Closing Process

Feb
23

In response to a recent Consumer Financial Protection Bureau (CFPB) Request for Information (RFI) relating to the home mortgage loan-closing process, in early February the Missouri Credit Union Association (MCUA) filed a comment letter with the agency using data co

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CUNA Seeks Your Comments on Mortgage Closing Process

Jan
24

The Consumer Financial Protection Bureau (CFPB) is planning to develop a more streamlined, efficient and educational mortgage closing process. To assist in understanding what consumers find most problematic about the current closing process, the Bureau has issued a Notice and Request for Information seeking input on 17 questions covering:

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CFPB and NCUA Adopt Supplemental Rule on Appraisals for "Higher-Priced Mortgage Loans"

Dec
19

The Consumer Financial Protection Bureau (CFPB), National Credit Union Administration (NCUA), and other federal financial regulators adopted a supplemental rule that amends Reg Z-changes made by a January 2013 final rule* regarding appraisals for “higher-priced mortgage loans” (HPML)— formerly referred to as “higher-risk mortgages.” For certain mortgages with an APR that exceeds the average prime of

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Missouri Federal Lawmakers Urge CFPB to Delay Mortgage Rule Implementation

Dec
17

Six Missouri U.S. House members, along with U.S. Senator Roy Blunt (R), have signed on to letters urging the Consumer Financial Protection Bureau (CFPB) to delay implementation of new mortgage rules. The rules are set to take effect January 2014.

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Standards for Assessing Credit Unions' Diversity Policies & Practices

Nov
18

As reported previously, National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Fed, Office of the Comptroller of the Currency (OCC), and Securities Exchange Commission (SEC) have proposed joint standards for assessing the diversity policies and practices of the entities they regulate.

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CFPB Issues Additional Changes to Mortgage Rules

Sep
17

The CFPB released another final rule amending its Ability-to-Repay, Mortgage Servicing and Mortgage Loan Originator final rules, which were originally finalized in January of this year. The latest final rule provides:

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MCUA Comments on CFPB Telephone Survey Regarding Dispute Resolution Provisions

Aug
12

On August 6, 2013, the Missouri Credit Union Association (MCUA) filed a comment letter on the Consumer Financial Protection Bureau's (CFPB) request for approval by the Office of Management and Budget (OMB) for the CFPB to conduct a telephone survey.

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CFPB Issues New Clarifications to Mortgage Rules

Jul
16

Last week, the Consumer Financial Protection Bureau​ (CFPB) finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules.

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Financing Credit Insurance on Mortgage Loans - Rule Takes Effect in June

Apr
22

The Credit Union National Association's (CUNA) Regulatory Advocacy group continues to urge the Consumer Financial Protection Bureau (CFPB) to provide flexibility to credit unions regarding two practices relating to covered mortgage-related insurance: adding a monthly charge for credit insurance premiums to the loan balance; and charging a fixed monthly fee for the credit insurance that does not decline as the loan balance decreases.

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