Several of the mortgage rules that were finalized in January are discussed in a set of new videos from the Consumer Financial Protection Bureau.
On May 15, the CFPB announced the availability of the Overviews of the 2013 Mortgage Rules videos on its YouTube-hosted site.
Compiled into one longer or six shorter videos, the CFPB provides an overview of recently finalized rules for the mortgage industry, most of which have an expected implementation date in January 2014.
Overview of the 2013 New Mortgage Rules, clocks in at approximately 1 hour and 10 minutes. After CFPB Director Richard Cordray’s brief introductory message and historical background that led to the CFPB’s final rules, the video highlights every final regulation that the CFPB has issued to date.
Following the overview are smaller timeframe clips that focus on specific rules mentioned in each title.
The ability-to-repay and qualified mortgage rule video covers the Jan. 10 issued rules in a little less than 23 minutes.
A less than six-minute video addresses the Home Ownership Equity Protection Act finalized on Jan. 10.
The Equal Credit Opportunity Act valuation rule and Truth in Lending Act higher-priced mortgage loans appraisal rules clip released on Jan. 18 are addressed in a two-minute presentation.
A video on the second loan originator compensation rule issued on Jan. 20 is more than 13 minutes.
Running a little over 18 minutes, the mortgage servicing rules video discusses regulations released Jan. 17.
The final clip, titled TILA Escrow Rule, provides information on the Jan. 10-delivered rule and finishes just under seven minutes.
The videos can be accessed at www.youtube.com.
