The CFPB published the first round of updates to its examination procedures to address several of the new mortgage regulations issued by the Bureau earlier this year. The updated examination procedures are designed to help financial instaitutions and mortgage companies understand how they will be examined for CFPB rules that: set qualification and screening standards for loan originators; prohibit steering incentives; prohibit dual compensation; protect borrowers of HPMLs; prohibit the waiver of consumer rights; prohibit mandatory arbitration; require lenders to provide appraisal reports and valuations; and prohibit single premium credit insurance. To read more about the updated exam procedures, click here.
