Skip to content
BOL Conferences Top Gun 23
Thread Options
#1775827 - 01/14/13 02:40 PM CFPB Address on various disclosures
MN Banker Offline
Platinum Poster
Joined: Aug 2006
Posts: 980
I received this from an investor today:

Effective January 1, 2013, it was a requirement to reflect the Consumer Financial Protection Bureau (CBPB) as the regulator on the forms listed below.

1. The Adverse Action Notice and Counteroffer forms

2. Your Credit Score and the Price you pay for Credit form

3. The Consumer Handbook on Adjustable Rate Mortgages

4. The US Department of Housing and Urban Development Shopping for your Home Loan HUDís Settlement Cost Booklet



My questions are about #1, #2 and #4. Reg B only requires listing the CFPB if you're actually regulated by them (over $10 billion), correct? I looked it up and that's still what is stated in the regulation but wanted to make sure I'm not missing something.

As far as the booklets - does anyone know where it's stated that these have to be updated by 1/1/13? I know the CHARM booklet has been updated, but from what I can tell the HUD booklet hasn't been updated since 2010. I'm really confused where the investor is getting this information.

Thanks!

Return to Top
Lending Compliance
#1775893 - 01/14/13 03:35 PM Re: CFPB Address on various disclosures MN Banker
Ted Dreyer Offline
Diamond Poster
Ted Dreyer
Joined: Apr 2001
Posts: 2,245
You're right on #1, but the Risk-Based Pricing Notices (#2) all need to reflect CFPB information in the "How can you get more information?" section, no matter who your regulator is.

Return to Top

Moderator:  Andy_Z