Alert July 09, 2013

CFPB Releases Readiness Guide for Mortgage Rules

The CFPB released a readiness guide for the mortgage rules it finalized in January 2013 (see January 10, 2013 Alert discussing ability-to-repay and qualified mortgage rule and January 22, 2013 Alert discussing the mortgage servicing rules). The guide consists of a summary of the rules, a readiness questionnaire, frequently asked questions and tools, which contain links to summaries of the rules and the small entity compliance guides.