CFPB Provides Mortgage Rule Videos

The Consumer Financial Protection Bureau (CFPB) has developed a series of videos that detail its final mortgage rules.  You can access the video presentations that provide an overview of the 2013 rules in addition to a summary of the individual rules at: http://www.youtube.com/playlist?list=PLrfmdUlWzRF1U52P27LgFOK_J-bxemZ4n

The CFPB announced that “Our goal with these is to provide an overview of the rules in a plain language format that makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.”  Originators are also encouraged to review the complete rules, which they can find at: http://www.consumerfinance.gov/regulations  “Although the videos and guides give an overview of the rules, they are not a substitute for the underlying rules. We hope you’ll familiarize yourself with the rules we’ve issued and the resources available.”

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