CFPB Is Beginning To Review Its Major Mortgage Rules

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CFPB Is Beginning To Review Its Major Mortgage Rules

Mar, 24th 2017

January 2018 marks five years since the Consumer Financial Protection Bureau finalized the qualified mortgage rule, as well as other key mortgage regulations.

The five-year anniversary means more than a landmark date of a major regulation though.

Under Dodd-Frank, the CFPB must “use available evidence and data to assess all of its rules five years after they go into effect to ensure they are meeting the purposes and objectives of Dodd-Frank, and the specific goals of the subject rule,” Pavitra Bacon stated in a blog on the CFPB Monitor.

While there’s still plenty of time before January 2018, Bacon noted in the blog that Chris D’Angelo, associate director of the CFPB’s Division of Supervision, Enforcement and Fair Lending, recently went on record saying that the CFPB is starting the beginning...

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