New rules, fewer runarounds for mortgage borrowers
When you take out a mortgage loan to buy a home, you trust the mortgage servicing industry to work. Mortgage servicers are responsible for sending you...
Blog archive
Assuring consumers have access to mortgages they can trust
Today, we're issuing one of our most important rules to date, the Ability-to-Repay rule. It's designed to assure the reliability of mortgages – making sure...
Remittance Rule Session
Updated on August 8, 2013: The remittance rule goes into effect October 28, 2013. Visit the remittance rule page for additional information regarding the...
Working to help industry understand and comply with the new remittance rule: Countries list and webinar
Updated on August 8, 2013: The remittance rule goes into effect October 28, 2013. Visit the remittance rule page for additional information regarding the...
More time for comments on proposed changes to the definition of the finance charge
One part of our proposed rule to improve the disclosures consumers receive when applying for and closing on a mortgage was a change to the current...
Your chance to weigh in on mortgage servicing
Your opinion is important – weigh in now. As we talked about on Friday, the Bureau is trying to put the customer service back in mortgage servicing. We are...
Explainer: Why did it take 1,099 pages to propose a three-page mortgage disclosure?
Dear CFPB, Recently, I saw your notice of proposed rulemaking to combine and simplify existing mortgage disclosures. It's 1,099 pages long! Why does it take...
CFPB’s rulemaking agenda
Today, we are posting a semi-annual update of the CFPB's rulemaking agenda. The Office of Management and Budget (OMB) has not published the full federal...
Know Before You Owe: Introducing our proposed mortgage disclosure forms
With something as important as a mortgage, you ought to be able to get up-front, easy-to-understand information that lets you compare different offers and...
Know Before You Owe: How we learned to build a better mortgage disclosure
This is the post second in a series. Yesterday, we looked at the origins of the Know Before You Owe project for simplifying mortgages. Today, we look back...
Preparing for new mortgage disclosures: A look back at Know Before You Owe
The idea behind Know Before You Owe is simple: we believe in making disclosures simpler and more effective, and doing so with the input of the people who...
New rules governing the CFPB’s enforcement work
Today, the CFPB is posting three final rules and one interim final rule that we have sent to the Federal Register for publication. The rules deal with our...
What the proposed mortgage servicing rules could mean for you
Delinquencies. Defaults. Foreclosures. Let's face it: before the housing crisis, these and many other terms were foreign to many of us. Since 2008, however...
Remittance transfer rule: A personal perspective
As a child of South Asian immigrants, I recall my parents frequently sending money back to our family and friends in India. They would use a service to send...
We want to make it easier for you to submit comments on streamlining regulations
In November of 2011, we asked you to help us streamline the regulations we inherited from seven Federal agencies. Today we launched our Regulation...
Making a difference in the lives of immigrants and others who send money abroad
Over my years of public service, I've met a lot of hard-working people who regularly send money transfers, or remittances, to family members and others...
Promoting openness in CFPB rulemaking
Public participation is essential to CFPB's rulemaking process. We firmly believe that input from consumers, industry, and other interested parties will...
Preserving a level playing field and access to mortgages
Today, the CFPB is issuing an interim rule effective immediately to fill a regulatory gap. Some lenders are chartered or licensed by states, while others...
Explainer: What is a nonbank, and what makes one “larger”?
Dear CFPB, I noticed you posted a request for public comments on "larger participants" for your "nonbank supervision" program. I don't understand what this...
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