CFPB Mortgage Compliance Center
To assist credit unions with understanding and implementing the Consumer Financial Protection Bureau (CFPB)’s mortgage rules, the Michigan Credit Union League has developed the Mortgage Compliance Center resource page. This page provides a summary of and links to the resources created by the MCUL as well as by the CFPB, in a “one stop shop” experience. The MCUL will continue to update this page as new materials are created, and to keep up with the changing regulatory environment.
The CFPB’s 2013 Mortgage Rule Implementation Page aggregates all of the tools the CFPB has put together to help credit unions comply with the mortgage rules. Additional resources are also included separately under each applicable mortgage rule.
MCUL provides compliance support to help your credit union comply with these changes. You can send your questions electronically to firstname.lastname@example.org or by calling 800-262-6285, ext. 193.
Fee-based compliance consultants are also available through CU Solutions Group that can provide your credit union with individualized assistance on the implementation. For more details or to learn more about how they can help and to request a quote contact email@example.com.
These FAQs are common questions received on the Compliance Helpline related to the CFPB Mortgage Rules and are meant to provide credit unions with additional information and resources to assist with compliance. Click here to learn more.
This presentation focuses on the CFPB’s Readiness Guide which was designed for financial institutions to better understand the CFPB's mortgage rules and determine compliance readiness with the upcoming mortgage rule changes.
Through our Education Department, many of our leadership events this past year have included sessions that addressed the CFPB Mortgage Rules. See the training materials below.
Spring Leadership & Development Topics
CFPB- Mortgage Lending With A Twist (Powerpoint)
Regulatory Update 1 – Leduc / Wolbert – CFPB and NCUA rules
Regulatory Update 2 – Leduc / Wolbert – CFPB Rules and Recently Effective Regulations
CFPB 1: Mortgage Costs, Underwriting & HMDA requirements – Rutkowski
CFPB 3: MLO Rules, Escrow Accounts & Mortgage Servicing Rules – Rutkowski
CFPB 4: Appraisal Rules, TILA/RESPA & Disclosure, Vendor Regulation – Rutkowski
January 7th – What to know about the new CFPB Requirements – Rutkowski