Articles by Michael McLain

Agency Expands HMDA Requirements

Expect the CFPB's final rule in mid-2015.
May 3, 2014
CFPB expands HMDA to help spot discriminatory or other negative mortgage lending trends.
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Complying With Ability-to-Repay and QM Rule

NCUA examiners to take into account a CU’s good-faith effort to comply.
March 1, 2014
NCUA examiners to take into account a CU’s good-faith effort to comply.
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Integrated Mortgage Disclosures Improve Clarity

CFPB’s consolidated final rule streamlines TILA/RESPA requirements.
February 16, 2014
CFPB’s consolidated final rule streamlines TILA/RESPA requirements.
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CFPB’s Mortgage Servicing Requirements

Final rule covers periodic statement requirements, interest-rate adjustments, and more.
December 31, 2013
Final rule covers periodic statement requirements, interest-rate adjustments, and more.
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Mortgage Servicing: What’s in Store?

New rule includes an exemption for small servicers.
November 1, 2013
As required by the Dodd-Frank Act, the CFPB will require periodic statements for most closed-end mortgages—not just open-end loans.
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Get Ready for CFPB’s Ability-To-Repay Rule

The rule will have a significant impact on CUs’ mortgage programs.
September 8, 2013
This final rule expands the ATR requirements to include most closed-end mortgages—with a few exceptions.
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Agency Protects Stay-At-Home Spouses

Rule change may provide easier access to credit cards for millions of people.
July 24, 2013
Regulation Z amendment allows card issuers to consider a working spouse's income as that of the applicant's under certain conditions.
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New Rules for Open-End Lending

CUs can’t require any form of credit verification when members request advances, NCUA rules say.
December 31, 2012
Review policies and procedures to ensure conformance with NCUA’s updated guidance.
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‘Know Before You Owe’ Continues to Evolve

CFPB develops new ‘loan estimate’ and ‘closing disclosure’ forms.
October 1, 2012
CFPB’s “Know Before You Owe” project is an effort to combine the early disclosures required by TIL and RESPA into one document.
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Three Additional Rules From CFPB

Agency targets mortgage originations, escrow accounts, and high-cost loans.
July 20, 2012
The Consumer Financial Protection Bureau addresses mortgage originator standards, high-cost mortgages, and escrow accounts.
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CU Mag cover July 2014

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July 2014

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