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 HUD’s 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!