Consumer Financial Protection Bureau Proposes Rules to Bring Greater Accountability to Mortgage Market
| Date Published | 8/20/2012 |
| Author | Yefei Wei |
| Theme | Retail Housing Finance |
| Country | United States |
August 17, 2012
Consumer Financial Protection Bureau Proposes Rules to Bring Greater Accountability to Mortgage Market—Requiring No-Point, No-Fee Loan OptionsThe Consumer Financial Protection Bureau (CFPB) invites the public to comment on proposed rules governing mortgage loan originations by October 16, 2012. These proposals clarify and expand on existing regulations governing loan originator compensation and qualifications. They also implement new laws, including a restriction on the payment of upfront discount points, origination points, and fees on most mortgage loan transactions.
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