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CUNA Launches New Mortgage Rules Implementation Survey
Tuesday, September 17, 2013 6:45 AM

The Credit Union National Association (CUNA) continues to press for improvements in the mortgage rules adopted by the Consumer Financial Protection Bureau (CFPB) that are scheduled to take effect next January. Under the auspices of CUNA’s Mortgage Issues Working Group, and input from many credit unions and leagues, CUNA created and launched a new set of survey questions late last week.

CUNA hopes to obtain additional data from credit unions on the top five or six areas of concern regarding implementation difficulties, a better feel for how many credit unions may consider altering the mortgage products and services offered to members as a result of these rules, whether credit unions are engaging consultants and vendors to assist with compliance, what the additional costs of compliance is/will be for credit unions, and the amount of time it will take to train credit union employees, among other things.

A link to the survey can be found here.