171 pages released today of proposed amendments focusing
primarily on clarifying, revising, or amending provisions on: (1) loss mitigation procedures
under Regulation X’s servicing provisions; (2) amounts counted as loan originator compensation
to retailers of manufactured homes and their employees for purposes of applying points and fees
thresholds under the Home Ownership and Equity Protection Act and the qualified mortgage
rules in Regulation Z; (3) exemptions available to creditors that operate predominantly in “rural
or underserved” areas for various purposes under the mortgage regulations; (4) application of the
loan originator compensation rules to bank tellers and similar staff; and (5) the prohibition on
creditor-financed credit insurance. The Bureau also is proposing to adjust the effective dates for
certain provisions of the loan originator compensation rules. In addition, the Bureau is proposing
technical and wording changes for clarification purposes to Regulations B, X, and Z.
http://files.consumerfinance.gov/f/201306_cfpb_proposed-modifications_mortgage-rules.pdf