Appraiser News
FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
Understanding new CFPB regulations – Part One
|
The Consumer Financial Protection Bureau (CFPB) has made its imprint on the residential housing market clear since it began its mission to protect U.S. consumers in July 2011.
Perhaps two of the most notable regulations are still in their infancy.
The bureau’s official interpretations of the Equal Credit Opportunity Act (ECOA) were spelled out in its amendments to Regulation B, which became effective Jan. 18. The amendments require more transparency between lenders and consumers, as lenders are now required to disclose all appraisals and other written valuations developed in connection with an application for a loan to be secured by a first lien on a dwelling.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories