Most of CFPB’s Time Spent on Mortgage Market Reforms

CFPB Deputy Director Raj Date informed attendees at a recent Mortgage Bankers Association conference in New York City that mortgage market reform remains the CFPB’s top priority. 

The CFPB’s development of a one-page mortgage disclosure under the Truth in Lending Act and Real Estate Settlement Procedures Act, the establishment of an ability to repay rule for mortgage originators and assortment of reform measures targeting mortgage servicers have been – and will likely continue to be – the CFPB’s top priorities. 

The CFPB has also announced its intentions to roll out a number of rulemakings this year regulating bank and nonbank mortgage originators.