Category New Rural or Underserved Counties

Additional Mortgage Rule Implementation Resources for Lenders

The Consumer Financial Protection Bureau (“CFPB”) has issued additional resources related to the CFPB’s mortgage servicing rules. The first, a fact sheet, summarizes key issues for small creditors operating in a rural or underserved area. This fact sheet includes information related to verifying small creditors’ official designation under the mortgage servicing rules. This document also […]

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 […]