Monthly Archives: October 2015

CFPB Issues New Lists of Rural or Underserved Counties

The Consumer Financial Protection Bureau (“CFPB”) has issued a new 2016 list of “rural or underserved” and “rural” counties as they pertain to applying regulatory provisions. “Rural” counties are defined by the USDA Economic Research Services urban influence codes. “Underserved” counties are determined by data collected under the Home Mortgage Disclosure Act. Smaller institutions should […]

CFPB Updates Rule Implementing HMDA Changes

Earlier this month, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule changing Regulation C, which implements the Home Mortgage Disclosure Act (“HMDA”). If you are not aware, HMDA requires certain institutions to collect and disclose information about their mortgage lending activity. The final rule seeks to streamline certain existing requirements while also expanding […]

TRID Implementation Transition Continues

Now that we are in the post-TRID world, financial institutions have made the formal conversion to the combined TILA-RESPA Integrated Disclosure (“TRID”) and are working through the implementation steps for new loans. The TRID Rule implementation date was formally delayed from August to October 3, 2015, but there is still a significant learning curve for […]