Contact: Edmund D. Harllee; Williams Mullen (North Carolina & Virgnina, USA)
On Thursday, May 2, the Consumer Financial Protection Bureau (the “Bureau”) published proposed rules and a request for public comment in the Federal Register to amend certain of its final mortgage rules contained in Regulation X (Real Estate Settlement Procedures) and Regulation Z (Truth in Lending), and to make certain corrections to these rules.
On January 30, 2013, the Bureau published final rules in the Federal Register with respect to the “ability-to-repay” and “qualified mortgage” standards (see this publication of January 29, 2013); and on February 14, 2013, the Bureau published final rules in the Federal Register amending Regulations X and Z with respect to mortgage servicing requirements (see this publication of February 25, 2013).
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