Go to:

May 2018
< Apr Jun >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

CFPB Launches Nationwide Education Campaign about New Mortgage Rules
Thursday, December 19, 2013 6:50 AM

The Consumer Financial Protection Bureau (CFPB) has launched a campaign to educate the public about the new protections provided by the CPFB’s mortgage rules. The CFPB is releasing educational materials in advance of the Jan. 10, 2014 effective dates for its mortgage rules.

These materials include:

  • Guide for Housing Counselors: This guide is designed to be a quick reference for housing counselors. The CFPB wants to ensure that housing counselors understand the new federal protections so that borrowers can pursue all possible options before beginning the foreclosure process. The CFPB will also be offering training on the rules for housing counselors.
  • Mortgage Tips: The CFPB is providing a number of different tips on new rights under the new rules for homebuyers and homeowners at every stage of the mortgage process— from taking out a loan to paying it back. The tips also include recommendations for troubled borrowers facing foreclosure.
  • Answers to Consumer Questions: The Bureau has published mortgage-related questions to AskCFPB, an interactive online tool designed to answer consumers’ most frequently asked questions in plain language.
  • Consumer Tools: The CFPB’s website offers a tool to help consumers find local housing counseling agencies to answer their questions or address their concerns. Consumers that have an issue with consumer financial products or services, such as a mortgage, can also submit a complaint.
  • Factsheets on the Rules: The CFPB has published a factsheet with an overview of all of the new consumer protections in the Bureau’s mortgage rules. The CFPB has also published a summary of the new procedures to facilitate borrowers’ access to foreclosure avoidance options.