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CFPB Released Updates to New Mortgage Regulations Exam Procedures
Monday, December 2, 2013 6:45 AM

The Consumer Financial Protection Bureau (CFPB) released updates to exam procedures in connection with the new mortgage regulations issued in January 2013 and amended through Oct. 15, 2013. These updates offer financial institutions and other industry-participants valuable guidance on how examinations for compliance with the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) will be conducted.

The manual now contains exam procedures for both RESPA and TILA, covering final rules issued by CFPB through Oct. 15, 2013. Credit unions can access the Supervision and Examination Manual online, at consumerfinance.gov/guidance/supervision/manual.