CFPB Vows To Help Lenders Understand New Mortgage Rules

Law360, New York (February 13, 2013, 4:16 PM EST) -- The Consumer Financial Protection Bureau said Wednesday that it would work with lenders, potential home buyers and regulators to help them understand the agency's complex new rules for the mortgage market before they go into effect next year.

The bureau, which released new “ability-to-repay” and mortgage-servicing guidelines last month, said it would provide a series of plain-language written guides and videos aimed at answering lenders' questions about the rules as part of a broader effort to get the mortgage market ready for sweeping changes set to...
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